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DSST Business Math

Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Convert 50% to a fraction






2. Convert 1/4 to a percent






3. Outside numbers in a ratio.






4. IRR=1 + [(NPV1/NPV1-NPV2)(2-1)]% Where: 1=one interest rate 2=the other NPV1=the NPV at rate 1 NPV2=the NPV at rate 2 (NPV = Net Present Value)






5. Convert 65% to a decimal






6. X=S*[1/(1+r)^n] Where: S=the sum to be received after n time periods X=the present value of that sum r=the rate of return (as a proportion) n=the number of time periods - r - rate - is sometimes called cost of capital






7. % of 90 days same as cash convert to payments.






8. Net Sales for period/ Avg Stock for period






9. Beginning inventory + Purchases - Ending inventory






10. The difference between the retail price and the cost of goods sold; it includes operating expenses - retail reductions - and profit






11. Amount decrease (Original - New) / Original amount = decimal= convert to %






12. The average person will have _ jobs in their lifetime.






13. The average car payment is $_ per month for _ months.






14. Wholesale cost






15. Liabilities - capital - income






16. Overage$ = book$ - physical count$; overage% = overage$/NS$






17. $ Cost/ (100%-markup%)






18. The recommended house payment should be no more than _% of your monthly take-home pay.






19. What does percent mean?






20. What happens when your sales are higher than your expenses - etc.






21. The wholesale cost of goods plus the markup






22. What is the product of 3.26 and 0.4?






23. cost of an item expressed per unit of measure or count.






24. To take advantage of the 6% cash discount - a retailer made a $2 -000 partial payment during the discount period. How much was the retailer credited for the $2 -000 partial payment?






25. Convert 1.25 to a percent






26. Cash on delivery; this dating is used when the vendor does not know the retailer or the retailer does not have a strong line of credit






27. The average car will lose _% of its value in the first 4 years.






28. Convert 56% to a decimal






29. current assets/ current liabilities






30. A form of closed-end credit used for purchasing durable goods such as cars






31. When refunds or retail price reductions are given to customers - these activities reduce the value of this (also known as initial sales). formula: GS = NS + RED; GS$ = NS$ X GS%






32. Turning assets into cash.






33. Another way of counting part of a whole?






34. S=X+nrX Where: X=the original sum invested r=the interest rate (as a proportion - e.g. 0.05=5%) n=the number of periods S=the sum invested after n periods (capital + interest) - e.g. invest $1000 @ 10% simple interest for 5 years = 1000+(50.101000)






35. A measure of the number of days needed to collect accounts receivable.






36. (Retail - Cost)/ Retail






37. BOM $ Stock/ Sales for period






38. GMROII = GM% x (Sales / Average Value of Inventory)






39. You should never take out more than a _ year mortgage.






40. accounts receivable/ average daily sales






41. Commissions - fees for service - merchandise sales - rental income - royalties






42. Direct labor - factory overhead - merchandise inventory - packaging - raw material






43. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






44. Advertising - bad debt expense - conributions and donations - depreciation - educational expense - insurance - interest expense - licenses - office supplies - postage - rent - repairs - salaries and wages - supplies - taxes - travel and transportatio






45. A/b






46. End of month; dating starts with the end of the month and the invoice is to be paid within the specified number of days after the end of the month in which goods are invoiced; ex: 8/10 EOM - n/90






47. Net Sales / Average Retail Value of Inventory






48. Rose borrowed money to buy a ring priced at $420. When she repaid the loan at the end of 3 months - the interest charge was $31.50. What was the rate of interest?






49. After 4 years - $5 -000 will grow to how much if it earns 10% interest?






50. cash + receivables/ current liabilities.







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Can you answer 50 questions in 15 minutes?


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