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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. BOM $ Stock/ Sales for period






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






3. Convert .36 to a percent






4. Inside numbers in a ratio.






5. Liabilities - capital - income






6. Convert 80% to a fraction






7. 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)






8. Total Net Sales / Total Number of Transactions






9. Date of invoice - the cash discount terms will have no dating within the discount statement; ex: 4/10 - n/30






10. Convert 41/100 to a percent






11. Gross Margin/ Average Inventory Cost






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






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






14. Convert 65% to a decimal






15. Convert .62 to a percent






16. Alignment of the decimals is not important






17. total fixed costs/ selling price-variable cost






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






19. What is the product of 3.26 and 0.4?






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






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






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






23. A/b






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






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






26. Convert 3 to a percent






27. 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






28. A form of closed-end credit used for purchasing durable goods such as cars






29. A team won 16 games and lost 9 games. What percent of games did the team lose?






30. Convert 50% to a fraction






31. 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






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






33. $ RETAIL X (100 - GM %) / 100






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






35. Convert 1.25 to a percent






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






37. (TY-LY)/ LY or (Plan-Actual)/






38. What does percent mean?






39. Wholesale cost






40. 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?






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






42. 1. develop a vision statement for the company - 2. scan the internal and external environments - 3. determine issues critical to the company - 4. select the problem to be solved - 5. determine the specific strategy to achieve the solution - 6. identi






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






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






45. Start with list price - List price: $6400 x 25% - x 10% - x10% % - Taken one after another(subtract)






46. Convert 70% to a decimal






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






48. Turning assets into cash.






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






50. Commissions - fees for service - merchandise sales - rental income - royalties