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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 1/4 to a percent






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






3. cash + receivables/ current liabilities.






4. Convert 41/100 to a percent






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






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






7. total fixed costs/ selling price-variable cost






8. Assets - cost of goods sold - expenses






9. The point at which you stop losing money.






10. Two equivalent ratios joined by an equal sign.






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






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






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






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






15. A/b






16. Total Net Sales / Total Number of Transactions






17. Convert .4 to a percent






18. Turning assets into cash.






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






20. (Retail - Cost)/ Retail






21. What is the product of 3.26 and 0.4?






22. Sales - cost of goods sold






23. 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






24. Date of invoice - the cash discount terms will have no dating within the discount statement; ex: 4/10 - n/30






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






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






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. 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%






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






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






31. total annual sales/365






32. Outside numbers in a ratio.






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






34. Net Sales for period/ Avg Stock for period






35. Inside numbers in a ratio.






36. Beginning inventory + Purchases - Ending inventory






37. Another name for the P & L statement mainly used by managers planning sales or accountants formulating analyses






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






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






40. Convert .36 to a percent






41. A count of every item on the floor - in stock rooms - warehouse - etc. to determine whether shortages or overages are occuring






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






43. 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






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






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






46. 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...






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






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






49. When sales plans are underestimated and the stock purchases result in a low inventory






50. Convert 3 to a percent