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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 .36 to a percent






2. The wholesale cost of goods plus the markup






3. Beginning inventory + Purchases - Ending inventory






4. Total Net Sales / Total Number of Transactions






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






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






7. The recommended house payment should be no more than _% of your monthly take-home pay.






8. 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






9. $ retail x (100%-markup)






10. 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)






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






12. accounts receivable/ average daily sales






13. current assets/ current liabilities






14. A value or an expression of how fast merchandise moves through the store; also called turn. formula: turn - NS$ / Average Stock$ (average stock$ = BOM$ + EOM$)/(#BOM + 1)






15. Convert 41/100 to a percent






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






17. 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...






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






19. Outside numbers in a ratio.






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






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






22. The difference between the retail price and the cost of goods sold; it includes operating expenses - retail reductions - and profit






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






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






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






27. Sales - cost of goods sold






28. Loss of items due to damaged goods - stealing - etc.






29. Convert 50% to a fraction






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






31. 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






32. Convert 1/4 to a percent






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






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






35. Convert 3 to a percent






36. total annual sales/365






37. He availability of your money is called _.






38. 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)






39. Convert 56% to a decimal






40. Convert 70% to a decimal






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






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






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






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






45. Cash on delivery; this dating is used when the vendor does not know the retailer or the retailer does not have a strong line of credit






46. A/b






47. Turning assets into cash.






48. 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?






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






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







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Can you answer 50 questions in 15 minutes?


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