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






2. What is the product of 3.26 and 0.4?






3. ($ Retail x 100 / COST) - 100






4. S=X(1+r1)^y(1+r






5. 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)






6. 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%






7. cash + receivables/ current liabilities.






8. Convert 3 to a percent






9. Total Net Sales / Total Number of Transactions






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






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






12. He availability of your money is called _.






13. Gross Margin/ Average Inventory Cost






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






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






16. 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






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






18. Alignment of the decimals is not important






19. Convert 70% to a decimal






20. Another way of counting part of a whole?






21. 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.






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






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






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






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






26. Convert 1/4 to a percent






27. 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






28. Liabilities - capital - income






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






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






31. Original retail price - Lower retail price






32. Convert 80% to a fraction






33. $ retail x (100%-markup)






34. BOM $ Stock/ Sales for period






35. A/b






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






37. 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)






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






39. Net Sales / Average Retail Value of Inventory






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






41. accounts receivable/ average daily sales






42. total fixed costs/ selling price-variable cost






43. Convert 56% to a decimal






44. Net Sales for period/ Avg Stock for period






45. total annual sales/365






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






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






48. When slaes plans are overestimated and the stock purchases result in a stockpiled inventory






49. Sales - cost of goods sold






50. Convert 70/100 to a percent