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DSST Business Math
Start Test
Study First
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. Convert .36 to a percent
Quick Ratio
36%
transportation
Extremes
2. The wholesale cost of goods plus the markup
2.5% per month
Liquidity of Assets
The sum of a Geometric Progression
Retail
3. Beginning inventory + Purchases - Ending inventory
36%
percent
Markdown %
cost of goods sold formula (COGS)
4. Total Net Sales / Total Number of Transactions
Gross margin %
3%
Discounting Formula
Sales per Transaction
5. The average car will lose _% of its value in the first 4 years.
1.304
60
14/100
Break Even Point
6. (TY-LY)/ LY or (Plan-Actual)/
378 63
Of what number 16 is a 25% increase
Extremes
% increase or decrease
7. The recommended house payment should be no more than _% of your monthly take-home pay.
With cash discounts and calculating net price - when to add freight
Internal Rate of Return
25
net sales
8. 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
The sum of a Geometric Progression
62%
36%
Subtracting Fractions
9. $ retail x (100%-markup)
$ Cost
gross sales
41%
types of capital
10. 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)
Internal Rate of Return
when multiplying numbers that contain decimals:
4%
% increase or decrease
11. $ RETAIL X (100 - GM %) / 100
underbought
$ COST
physical inventory
2.5% per month
12. accounts receivable/ average daily sales
Average Collection Turnover
$ Retail
types of expenses
types of liabilities
13. current assets/ current liabilities
Current Ratio
costs of goods sold
With cash discounts and calculating net price - when to add freight
Margin %
14. 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)
stock turn
78
shrinkage
Adding Fractions
15. Convert 41/100 to a percent
gross sales
41%
Markdown %
Retail
16. % of 90 days same as cash convert to payments.
costs of goods sold
78
Subtracting Fractions
Average Collection Turnover
17. 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...
percent decrease
$ Cost
operating expenses
when multiplying numbers that contain decimals:
18. A team won 16 games and lost 9 games. What percent of games did the team lose?
62%
Of what number 16 is a 25% increase
Gross Margin Return On Inventory Investment (GMROII)
36%
19. Outside numbers in a ratio.
Extremes
15
$ Markdown
78
20. A/b + c/b = (a+c)/b
gross sales
transportation
Adding Fractions
Liquidity
21. The value of the inventory as kept in the handwritten ledgers or computer system; formula: book$ = merchandise available$ - NS$ - (MD$ + ED$)
Mark Up %
book value
Cost
With cash discounts and calculating net price - when to add freight
22. The difference between the retail price and the cost of goods sold; it includes operating expenses - retail reductions - and profit
Markup
physical inventory
types of assets
Dividing Fractions
23. Multiply the number by 1+the increase proportion - e.g. 16(1+0.25) = 161.25 = 20 - 20 is a 25% increase over 16
stock turn
To increase a number by a given percentage - e.g. increase 16 by 25%
percent decrease
To decrease a number by a given percentage - e.g. decrease 16 by 25%
24. Multiply the number by 1-the decrease proportion - e.g. 16(1-0.25) = 160.75 = 12 - 12 is a 25% decrease of 16
types of expenses
GMROI
percent
To decrease a number by a given percentage - e.g. decrease 16 by 25%
25. After 4 years - $5 -000 will grow to how much if it earns 10% interest?
Break Even Point
$6 -655.50
Liquidity of Assets
overages
26. GMROII = GM% x (Sales / Average Value of Inventory)
Gross Margin Return On Inventory Investment (GMROII)
Mark Up %
Retail
$ COST
27. Sales - cost of goods sold
$ COST
EOM (in terms of invoice)
Gross margin dollars
net sales
28. Loss of items due to damaged goods - stealing - etc.
To decrease a number by a given percentage - e.g. decrease 16 by 25%
shrinkage
Markdown %
Margin %
29. Convert 50% to a fraction
costs of goods sold
60
50/100
Margin %
30. $ Cost x (100 + Mark-up %) / 100
$ Retail
Effective annual rate of interest formula
$ Markdown
$2 -127.66
31. 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
cost of goods sold formula (COGS)
Dividing Fractions
When Dividing With Exponents
Discounting Formula
32. Convert 1/4 to a percent
types of incomes
25%
net sales
Current Ratio
33. A/b - c/b = a-c/b
Stock to Sales Ratio
Subtracting Fractions
Internal Rate of Return
Average Collection Turnover
34. cost of an item expressed per unit of measure or count.
Dividing Fractions
physical inventory
operating expenses
Unit pricing
35. Convert 3 to a percent
3%
percent
Retail
operating expenses
36. total annual sales/365
378 63
Average Daily Sales
increase=debit
Gross margin dollars
37. He availability of your money is called _.
Liquidity
Mark Up %
.7
Gross margin dollars
38. 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)
Subtracting Fractions
Multiplying Fractions
Simple interest formula
70%
39. Convert 56% to a decimal
.56
16-18
types of assets
When Dividing With Exponents
40. Convert 70% to a decimal
Gross margin dollars
.7
operating expenses
2.5% per month
41. After all discounts have been applied to find net amount due. $100 -25% less trade discount -4% cash discount # + $20 freight!
Average Collection Turnover
cost of goods
90.9%
With cash discounts and calculating net price - when to add freight
42. Units Sold/ (Units Sold + On Hand Inventory)
Sell Thru %
overbought
installment loan
DOI
43. The average person will have _ jobs in their lifetime.
70%
operating expenses
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
16-18
44. Accounts receivable - buildings - cash - copyrights - equiptment - furniture and fixtures - land - tomor vehicles
types of assets
Turnover
When Dividing With Exponents
overbought
45. 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
COD
Effective annual rate of interest formula
increase=debit
The sum of a Geometric Progression
46. A/b
Dividing Fractions
gross sales
Markup
% increase or decrease
47. Turning assets into cash.
physical inventory
percent
Liquidity of Assets
types of liabilities
48. 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?
$2 -127.66
125%
Cost
588 mph
49. A measure of the number of days needed to collect accounts receivable.
$ Markdown
Subtracting Fractions
Average Collection Turnover
$6 -655.50
50. If freight is to be paid by the seller - the shipping terms are...
125%
FOB destination
Mark Up %
types of capital
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