Test your basic knowledge |

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. Gross margin dollars/Net sales dollars (multiply by 100 to express as percentage) or (Selling price - cost) x 100 / Selling price






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






3. 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)






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






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






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






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






8. Planned Sales + Planned Markdowns + Planned EOM - Planned BOM






9. 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






10. Capital stock - owner's equity (owner's funds invested in the business)






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






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






13. 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






14. cash + receivables/ current liabilities.






15. The point at which you stop losing money.






16. The wholesale cost of goods plus the markup






17. A fraction in which the denominator is equal to or less than the numerator is a(an) ______________ fraction.






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






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






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






21. 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)






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






23. Convert 70/100 to a percent






24. Two equivalent ratios joined by an equal sign.






25. Beginning inventory + Purchases - Ending inventory






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






27. Net Sales for period/ Avg Stock for period






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






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






30. $ Markdown/ $ Net Sales (multiply result by 100 to express as percentage)






31. $ Cost x (100 + Mark-up %) / 100






32. Assets - cost of goods sold - expenses






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






34. Accounts payable - bonds - notes payable (bank loans) - provisions for pensions






35. Multiply the number by 1-the decrease proportion - e.g. 16(1-0.25) = 160.75 = 12 - 12 is a 25% decrease of 16






36. 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...






37. 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)






38. Convert 50% to a fraction






39. Receipt of goods; the cash discount period and net period begin with the date of receipt of goods; ex: 8/10 ROG - n/30






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






41. current assets/ current liabilities






42. 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






43. Divide the result by 1+the increase proportion eg) X=16/(1+0.25) = 12.8 - 16 is a 25% increase over 12.8






44. total annual sales/365






45. Convert 56% to a decimal






46. Alignment of the decimals is not important






47. What is the product of 3.26 and 0.4?






48. Convert 3 to a percent






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






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







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests