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






2. Convert 70/100 to a percent






3. Turning assets into cash.






4. A/b






5. 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...






6. Convert 3 to a percent






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






8. Convert 56% to a decimal






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






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






11. Convert 70% to a decimal






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






13. Beginning inventory + Purchases - Ending inventory






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






15. $ retail x (100%-markup)






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






17. 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?






18. Net Sales for period/ Avg Stock for period






19. 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






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






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






22. Convert 1.25 to a percent






23. Convert .62 to a percent






24. accounts receivable/ average daily sales






25. What is the product of 3.26 and 0.4?






26. The point at which you stop losing money.






27. Convert 41/100 to a percent






28. A/b - c/b = a-c/b






29. 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






30. total annual sales/365






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






32. Convert 10/11 to a percent






33. What does percent mean?






34. Convert 14% to a fraction






35. 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






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






37. A plane flies 980 miles in 1 2/3 hours. How many miles does the plane average per hour






38. 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%






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






40. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






41. The wholesale cost of goods plus the markup






42. A/b






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






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






45. Convert 80% to a fraction






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






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






48. Alignment of the decimals is not important






49. Convert 65% to a decimal






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






Can you answer 50 questions in 15 minutes?



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