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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. Convert 1.25 to a percent






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






3. What is the product of 3.26 and 0.4?






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






5. Inside numbers in a ratio.






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






7. Accounts receivable - buildings - cash - copyrights - equiptment - furniture and fixtures - land - tomor vehicles






8. The average person will have _ jobs in their lifetime.






9. 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






10. Convert .4 to a percent






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






12. After 4 years - $5 -000 will grow to how much if it earns 10% interest?






13. cash + receivables/ current liabilities.






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






15. Convert 70% to a decimal






16. Convert 20 to a percent






17. A/b






18. total fixed costs/ selling price-variable cost






19. Gross Margin/ Average Inventory Cost






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






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






22. Divide the result by 1-the decrease proportion - eg) X=16/(1-0.25)=21.33 - 16 is a 25% decrease of 21.33






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






24. Sales - cost of goods sold






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






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






27. 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






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






29. Net Sales for period/ Avg Stock for period






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






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






32. (Retail - Cost)/ Retail






33. Convert 50% to a fraction






34. Convert 65% to a decimal






35. The cost of moving from the vendor's warehouse (loading dock) to the retail warehouse or store (loading dock) - may also include insurance to cover the merchandise while in transit






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






37. Beginning inventory + Purchases - Ending inventory






38. Liabilities - capital - income






39. Convert 1/4 to a percent






40. Outside numbers in a ratio.






41. Two equivalent ratios joined by an equal sign.






42. 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?






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






44. End of month; dating starts with the end of the month and the invoice is to be paid within the specified number of days after the end of the month in which goods are invoiced; ex: 8/10 EOM - n/90






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






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






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






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






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






50. Convert 41/100 to a percent