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. Alignment of the decimals is not important






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






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






4. Convert 70/100 to a percent






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






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






7. A/b






8. Net Sales / Average Retail Value of Inventory






9. 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.






10. 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...






11. ($ Retail x 100 / COST) - 100






12. A/b






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






14. Two equivalent ratios joined by an equal sign.






15. Rose borrowed money to buy a ring priced at $420. When she repaid the loan at the end of 3 months - the interest charge was $31.50. What was the rate of interest?






16. Convert 41/100 to a percent






17. Wholesale cost






18. 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






19. Units Sold/ (Units Sold + On Hand Inventory)






20. If freight is to be paid by the seller - the shipping terms are...






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






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






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






24. Convert 20 to a percent






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






26. 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






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






28. Liabilities - capital - income






29. What is the product of 3.26 and 0.4?






30. Another way of counting part of a whole?






31. What does percent mean?






32. Convert 70% to a decimal






33. Beginning inventory + Purchases - Ending inventory






34. Convert 80% to a fraction






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






36. Convert .36 to a percent






37. total fixed costs/ selling price-variable cost






38. The point at which you stop losing money.






39. He availability of your money is called _.






40. 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%






41. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






42. $ retail x (100%-markup)






43. 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?






44. total annual sales/365






45. Total Net Sales / Total Number of Transactions






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






47. Amount decrease (Original - New) / Original amount = decimal= convert to %






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






49. When refunds or retail price reductions are given to customers - these activities reduce the value of this (also known as initial sales). formula: GS = NS + RED; GS$ = NS$ X GS%






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







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