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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. Cash or assets that can quickly be converted into cash.






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






3. Two equivalent ratios joined by an equal sign.






4. Beginning inventory + Purchases - Ending inventory






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






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






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






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






9. 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






10. 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






11. Convert .62 to a percent






12. Convert 10/11 to a percent






13. The point at which you stop losing money.






14. Loss of items due to damaged goods - stealing - etc.






15. Aka - the terminal value of an investment to which equal annual amounts will be added S=[A(R^n -1)]/R-1 Where: S=the terminal value A=the first term R=the common ratio n=the number of terms






16. BOM $ Stock/ Sales for period






17. Shortage$ = book$ - physical count$; shortage% = shortage$/NS$






18. 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






19. Another name for the P & L statement mainly used by managers planning sales or accountants formulating analyses






20. Convert 1/4 to a percent






21. 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?






22. The wholesale cost of an item (cost of goods - or COG)






23. The sum of the cost of doing business - except the cost of goods; they include such items as sales persons' salaries - bags - paper and pencils - and cleaning of carpets...






24. Divide the result by 1-the decrease proportion - eg) X=16/(1-0.25)=21.33 - 16 is a 25% decrease of 21.33






25. Multiply the number by 1+the increase proportion - e.g. 16(1+0.25) = 161.25 = 20 - 20 is a 25% increase over 16






26. A^m/a^n = a^(m-n)






27. A/b + c/b = (a+c)/b






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






29. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






30. Convert .4 to a percent






31. accounts receivable/ average daily sales






32. Inside numbers in a ratio.






33. Convert 14% to a fraction






34. (TY-LY)/ LY or (Plan-Actual)/






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






36. What does percent mean?






37. total annual sales/365






38. When slaes plans are overestimated and the stock purchases result in a stockpiled inventory






39. The wholesale cost of goods plus the markup






40. (Retail - Cost)/ Retail






41. After all discounts have been applied to find net amount due. $100 -25% less trade discount -4% cash discount # + $20 freight!






42. Convert 56% to a decimal






43. 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)






44. Outside numbers in a ratio.






45. The value of the inventory as kept in the handwritten ledgers or computer system; formula: book$ = merchandise available$ - NS$ - (MD$ + ED$)






46. Total Net Sales / Total Number of Transactions






47. S=X(1+r1)^y(1+r






48. Use compliments - Step 1 Find compliments 25% = 100-25%= 75% - 10%= 90% - 10%=90% Step 2 Multiple Compliments 75%x90%x90% .75x.90x.90= .6075 Step 3 Convert to Percentage .6075= 60.75% Step 4 Compliment it 100%-60.75%= 39.35%






49. A value or an expression of how fast merchandise moves through the store; also called turn. formula: turn - NS$ / Average Stock$ (average stock$ = BOM$ + EOM$)/(#BOM + 1)






50. Alignment of the decimals is not important







Sorry!:) No result found.

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