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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. 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)






2. 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...






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






4. $ retail x (100%-markup)






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






6. Net Sales for period/ Avg Stock for period






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






8. current assets/ current liabilities






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






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






11. You should never take out more than a _ year mortgage.






12. 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)






13. total annual sales/365






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






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






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






17. Convert 50% to a fraction






18. 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%






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






20. The point at which you stop losing money.






21. Convert 70% to a decimal






22. A/b






23. Convert 1/4 to a percent






24. accounts receivable/ average daily sales






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






26. Convert 14% to a fraction






27. Alignment of the decimals is not important






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






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






31. 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






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






33. Convert .36 to a percent






34. 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






35. Total Net Sales / Total Number of Transactions






36. A form of closed-end credit used for purchasing durable goods such as cars






37. BOM $ Stock/ Sales for period






38. 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






39. What is the product of 3.26 and 0.4?






40. Net Sales / Average Retail Value of Inventory






41. cash + receivables/ current liabilities.






42. Two equivalent ratios joined by an equal sign.






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






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






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






46. Outside numbers in a ratio.






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






48. Advertising - bad debt expense - conributions and donations - depreciation - educational expense - insurance - interest expense - licenses - office supplies - postage - rent - repairs - salaries and wages - supplies - taxes - travel and transportatio






49. What does percent mean?






50. 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