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DSST Business Math

Subjects : dsst, math, business-skills, business-math, bvat

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. Loss of items due to damaged goods - stealing - etc.
Compound interest formula with changing rates
shrinkage
underbought
25%

2. Sales - cost of goods sold
Gross margin dollars
Compound interest formula with changing rates
percent
operating expenses

3. Commissions - fees for service - merchandise sales - rental income - royalties
14/100
types of incomes
stock turn
62%

4. A formal document that is used for a variety of functions within a retail business; it provides a big picture look at the succinct expression of the sales - markup - and profit for a business
types of liabilities
$252
When Dividing With Exponents
profit and loss statement

5. The wholesale cost of an item (cost of goods - or COG)
cost of goods sold formula (COGS)
Cost
Subtracting Fractions
physical inventory

6. The difference between the retail price and the cost of goods sold; it includes operating expenses - retail reductions - and profit
$ COST
Markup
50/100
Unit pricing

7. Convert 70% to a decimal
Of what number 16 is a 25% increase
To decrease a number by a given percentage - e.g. decrease 16 by 25%
physical inventory
.7

8. When slaes plans are overestimated and the stock purchases result in a stockpiled inventory
types of incomes
Multiplying Fractions
overbought
Proportion

9. Convert 65% to a decimal
.65
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
Dividing Fractions
Markdown %

10. Total Net Sales / Total Number of Transactions
To increase a number by a given percentage - e.g. increase 16 by 25%
Sales per Transaction
underbought
To decrease a number by a given percentage - e.g. decrease 16 by 25%

11. Accounts receivable - buildings - cash - copyrights - equiptment - furniture and fixtures - land - tomor vehicles
$ Cost
Markdown %
costs of goods sold
types of assets

12. Amount decrease (Original - New) / Original amount = decimal= convert to %
steps in strategic planning
60
percent decrease
GMROI

13. The wholesale cost of goods plus the markup
book value
Retail
operating expenses
types of incomes

14. BOM $ Stock/ Sales for period
Markdown %
Subtracting Fractions
Stock to Sales Ratio
$ COST

15. What is the product of 3.26 and 0.4?
types of capital
underbought
When Dividing With Exponents
1.304

16. A count of every item on the floor - in stock rooms - warehouse - etc. to determine whether shortages or overages are occuring
overbought
$2 -127.66
physical inventory
25%

17. The average person will have _ jobs in their lifetime.
16-18
70%
.65
cost of goods sold formula (COGS)

18. Cash or assets that can quickly be converted into cash.
Current Assets
Margin %
operating expenses
Current Ratio

19. $ Cost x (100 + Mark-up %) / 100
$6 -655.50
$ Retail
15
Means

20. Multiply the number by 1-the decrease proportion - e.g. 16(1-0.25) = 160.75 = 12 - 12 is a 25% decrease of 16
Unit pricing
types of assets
Gross Margin Return On Inventory Investment (GMROII)
To decrease a number by a given percentage - e.g. decrease 16 by 25%

21. $ RETAIL X (100 - GM %) / 100
15
Sell Thru %
to determine equivalent single discount rate for 25/10/10 series discount
$ COST

22. Direct labor - factory overhead - merchandise inventory - packaging - raw material
costs of goods sold
Compound interest formula with changing rates
Turnover
Stock to Sales Ratio

23. Net Sales / Average Retail Value of Inventory
Inventory Turnover Rate
Sell Thru %
profit
Gross margin dollars

24. cost of an item expressed per unit of measure or count.
physical inventory
Unit pricing
Markdown %
Effective annual rate of interest formula

25. After 4 years - $5 -000 will grow to how much if it earns 10% interest?
Retail
income statement
ROG
$6 -655.50

26. The recommended house payment should be no more than _% of your monthly take-home pay.
to determine equivalent single discount rate for 25/10/10 series discount
Quick Ratio
when multiplying numbers that contain decimals:
25

27. The value of the inventory as kept in the handwritten ledgers or computer system; formula: book$ = merchandise available$ - NS$ - (MD$ + ED$)
to determine equivalent single discount rate for 25/10/10 series discount
book value
Average Daily Sales
Retail

28. What does percent mean?
Cost
shrinkage
Average Collection Turnover
per hundred

29. A team won 16 games and lost 9 games. What percent of games did the team lose?
Stock to Sales Ratio
70%
Inventory Turnover Rate
36%

30. Multiply the number by 1+the increase proportion - e.g. 16(1+0.25) = 161.25 = 20 - 20 is a 25% increase over 16
To increase a number by a given percentage - e.g. increase 16 by 25%
cost of goods sold formula (COGS)
EOM (in terms of invoice)
Cost

31. Date of invoice - the cash discount terms will have no dating within the discount statement; ex: 4/10 - n/30
DOI
Retail
16-18
Liquidity

32. He availability of your money is called _.
net sales
types of capital
1.304
Liquidity

33. Net Sales for period/ Avg Stock for period
types of assets
Turnover
Dividing Fractions
Average Collection Turnover

34. Convert 56% to a decimal
netprice with a 25/10/10 series discount
.56
50/100
COD

35. accounts receivable/ average daily sales
Average Collection Turnover
Liquidity of Assets
profit
types of capital

36. Shortage$ = book$ - physical count$; shortage% = shortage$/NS$
cost of goods sold formula (COGS)
14/100
shortage
increase=debit

37. The average car payment is $_ per month for _ months.
shrinkage
Liquidity
Stock to Sales Ratio
378 63

38. A^m/a^n = a^(m-n)
588 mph
book value
netprice with a 25/10/10 series discount
When Dividing With Exponents

39. When sales plans are underestimated and the stock purchases result in a low inventory
underbought
The sum of a Geometric Progression
588 mph
Liquidity of Assets

40. Formula: GM = NS - COG; GM$ = NS$ X GM%
OTB (retail)
GMROI
when multiplying numbers that contain decimals:
gross margin

41. Convert 1/4 to a percent
shortage
profit and loss statement
25%
Liquidity of Assets

42. ($ Retail x 100 / COST) - 100
Mark Up %
Markdown %
Current Ratio
25%

43. Convert 10/11 to a percent
90.9%
Gross margin %
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
Break Even Point

44. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods
90.9%
OTB (retail)
Effective annual rate of interest formula
Turnover

45. Actual retail sales; the retail price at which one tiem is sold is combined with the retail prices of all the items that are sold to become the net sales amount.
.7
net sales
transportation
Break Even Point Formula

46. Convert 14% to a fraction
The sum of a Geometric Progression
3%
14/100
With cash discounts and calculating net price - when to add freight

47. Inside numbers in a ratio.
15
$6 -655.50
Means
loss

48. % of 90 days same as cash convert to payments.
With cash discounts and calculating net price - when to add freight
78
90.9%
types of capital

49. Convert .4 to a percent
shrinkage
Gross margin %
DOI
4%

50. Convert .36 to a percent
36%
Gross margin %
Markdown %
When Dividing With Exponents