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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. 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%






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






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






4. 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






5. Convert 70% to a decimal






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






7. The point at which you stop losing money.






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






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






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






11. What is the product of 3.26 and 0.4?






12. current assets/ current liabilities






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






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






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






16. Convert 1/4 to a percent






17. 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)






18. Convert .62 to a percent






19. Convert 70/100 to a percent






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






21. Another way of counting part of a whole?






22. 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






23. Assets - cost of goods sold - expenses






24. Convert 41/100 to a percent






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






26. Convert 50% to a fraction






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. Convert 10/11 to a percent






29. Cash or assets that can quickly be converted into cash.






30. A/b






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






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






34. Convert 20 to a percent






35. 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.






36. accounts receivable/ average daily sales






37. Alignment of the decimals is not important






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






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






40. total fixed costs/ selling price-variable cost






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






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






43. Convert 3 to a percent






44. Convert 1.25 to a percent






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






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






47. Receipt of goods; the cash discount period and net period begin with the date of receipt of goods; ex: 8/10 ROG - n/30






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






49. Turning assets into cash.






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