SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
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. Two equivalent ratios joined by an equal sign.
3%
per hundred
Multiplying Fractions
Proportion
2. % of 90 days same as cash convert to payments.
gross sales
Proportion
78
50/100
3. Gross Margin/ Average Inventory Cost
$ Retail
GMROI
Multiplying Fractions
Margin %
4. Accounts receivable - buildings - cash - copyrights - equiptment - furniture and fixtures - land - tomor vehicles
types of assets
installment loan
improper
physical inventory
5. Convert 56% to a decimal
DOI
underbought
physical inventory
.56
6. Divide the result by 1+the increase proportion eg) X=16/(1+0.25) = 12.8 - 16 is a 25% increase over 12.8
profit and loss statement
Of what number 16 is a 25% increase
profit
The sum of a Geometric Progression
7. Another name for the P & L statement mainly used by managers planning sales or accountants formulating analyses
income statement
net sales
Of what number 16 is a 25% increase
Break Even Point
8. 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%
Current Assets
Internal Rate of Return
Stock to Sales Ratio
9. What happens when your expenses - etc. are higher than your sales
41%
60
Dividing Fractions
loss
10. When sales plans are underestimated and the stock purchases result in a low inventory
underbought
Liquidity
types of expenses
income statement
11. Convert 50% to a fraction
$6 -655.50
netprice with a 25/10/10 series discount
Subtracting Fractions
50/100
12. If freight is to be paid by the seller - the shipping terms are...
14/100
$2 -127.66
FOB destination
Of what number 16 is a 25% increase
13. A team won 16 games and lost 9 games. What percent of games did the team lose?
operating expenses
36%
GMROI
costs of goods sold
14. Alignment of the decimals is not important
GMROI
when multiplying numbers that contain decimals:
net sales
income statement
15. Amount decrease (Original - New) / Original amount = decimal= convert to %
types of liabilities
percent decrease
OTB (retail)
Current Ratio
16. accounts receivable/ average daily sales
Average Collection Turnover
steps in strategic planning
Current Ratio
Dividing Fractions
17. The recommended house payment should be no more than _% of your monthly take-home pay.
Of what number 16 is a 25% increase
62%
Markdown %
25
18. Beginning inventory + Purchases - Ending inventory
loss
125%
cost of goods sold formula (COGS)
Sell Thru %
19. An electronics store is having a 40 percent off sale. Robert has been saving to purchase a stereo system that was originally priced at $420. If Robert purchases the system during the sale - what will be the cost?
The sum of a Geometric Progression
Retail
$252
GMROI
20. Accounts payable - bonds - notes payable (bank loans) - provisions for pensions
types of liabilities
90.9%
Means
16-18
21. After all discounts have been applied to find net amount due. $100 -25% less trade discount -4% cash discount # + $20 freight!
With cash discounts and calculating net price - when to add freight
60
To decrease a number by a given percentage - e.g. decrease 16 by 25%
when multiplying numbers that contain decimals:
22. 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)
shortage
Liquidity
90.9%
Internal Rate of Return
23. Start with list price - List price: $6400 x 25% - x 10% - x10% % - Taken one after another(subtract)
36%
20%
14/100
netprice with a 25/10/10 series discount
24. BOM $ Stock/ Sales for period
OTB (retail)
Means
Discounting Formula
Stock to Sales Ratio
25. $ retail x (100%-markup)
Compound interest formula with changing rates
To increase a number by a given percentage - e.g. increase 16 by 25%
$ Cost
$ Retail
26. $ Markdown/ $ Net Sales (multiply result by 100 to express as percentage)
physical inventory
3%
36%
Markdown %
27. Inside numbers in a ratio.
3%
Markdown %
Means
gross sales
28. 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.
net sales
improper
Margin %
stock turn
29. The wholesale cost of goods plus the markup
cost of goods sold formula (COGS)
Retail
Proportion
$ COST
30. Capital stock - owner's equity (owner's funds invested in the business)
Average Collection Turnover
50/100
types of capital
Retail
31. 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...
operating expenses
78
Liquidity
70%
32. ($ Retail x 100 / COST) - 100
Margin %
Means
Mark Up %
Gross margin dollars
33. $ RETAIL X (100 - GM %) / 100
increase=credit
Current Assets
cost of goods
$ COST
34. Multiply the number by 1-the decrease proportion - e.g. 16(1-0.25) = 160.75 = 12 - 12 is a 25% decrease of 16
gross margin
To decrease a number by a given percentage - e.g. decrease 16 by 25%
Effective annual rate of interest formula
Cost
35. Net Sales for period/ Avg Stock for period
$2 -127.66
$ Cost
2.5% per month
Turnover
36. Total Net Sales / Total Number of Transactions
Sales per Transaction
41%
When Dividing With Exponents
$ Markdown
37. 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
profit and loss statement
36%
Gross margin %
types of liabilities
38. Outside numbers in a ratio.
$ Cost
net sales
Extremes
gross sales
39. Convert 3 to a percent
3%
4%
shrinkage
types of capital
40. Wholesale cost
36%
378 63
Mark Up %
cost of goods
41. Convert 20 to a percent
$ COST
Means
20%
Gross Margin Return On Inventory Investment (GMROII)
42. Turning assets into cash.
$ Markdown
Liquidity of Assets
Subtracting Fractions
overages
43. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods
Effective annual rate of interest formula
70%
percent
Internal Rate of Return
44. 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)
costs of goods sold
percent
Simple interest formula
15
45. A measure of the number of days needed to collect accounts receivable.
overages
Average Collection Turnover
shortage
Gross margin dollars
46. Receipt of goods; the cash discount period and net period begin with the date of receipt of goods; ex: 8/10 ROG - n/30
$6 -655.50
36%
ROG
Of what number 16 is a 25% increase
47. Overage$ = book$ - physical count$; overage% = overage$/NS$
loss
Average Collection Turnover
overages
When Dividing With Exponents
48. (Retail - Cost)/ Retail
Margin %
Internal Rate of Return
588 mph
Break Even Point
49. Convert .62 to a percent
OTB (retail)
profit and loss statement
62%
Break Even Point
50. current assets/ current liabilities
Current Ratio
Margin %
types of incomes
With cash discounts and calculating net price - when to add freight
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
Certifications
CISSP go to https://www.isc2.org/
PMP
ITIL
RHCE
MCTS
More...
IT Skills
Android Programming
Data Modeling
Objective C Programming
Basic Python Programming
Adobe Illustrator
More...
Business Skills
Advertising Techniques
Business Accounting Basics
Business Strategy
Human Resource Management
Marketing Basics
More...
Soft Skills
Body Language
People Skills
Public Speaking
Persuasion
Job Hunting And Resumes
More...
Vocabulary
GRE Vocab
SAT Vocab
TOEFL Essential Vocab
Basic English Words For All
Global Words You Should Know
Business English
More...
Languages
AP German Vocab
AP Latin Vocab
SAT Subject Test: French
Italian Survival
Norwegian Survival
More...
Engineering
Audio Engineering
Computer Science Engineering
Aerospace Engineering
Chemical Engineering
Structural Engineering
More...
Health Sciences
Basic Nursing Skills
Health Science Language Fundamentals
Veterinary Technology Medical Language
Cardiology
Clinical Surgery
More...
English
Grammar Fundamentals
Literary And Rhetorical Vocab
Elements Of Style Vocab
Introduction To English Major
Complete Advanced Sentences
Literature
Homonyms
More...
Math
Algebra Formulas
Basic Arithmetic: Measurements
Metric Conversions
Geometric Properties
Important Math Facts
Number Sense Vocab
Business Math
More...
Other Major Subjects
Science
Economics
History
Law
Performing-arts
Cooking
Logic & Reasoning
Trivia
Browse all subjects
Browse all tests
Most popular tests