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Test your basic knowledge |
DSST Business Math
Start Test
Study First
Subjects
:
dsst
,
math
,
business-skills
,
business-math
,
bvat
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$
Gross margin dollars
Liquidity
Dividing Fractions
shortage
2. What is the product of 3.26 and 0.4?
Extremes
1.304
14/100
Gross Margin Return On Inventory Investment (GMROII)
3. ($ Retail x 100 / COST) - 100
$6 -655.50
To increase a number by a given percentage - e.g. increase 16 by 25%
Mark Up %
$ Retail
4. S=X(1+r1)^y(1+r
Current Assets
Sell Thru %
Compound interest formula with changing rates
cost of goods sold formula (COGS)
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)
.7
Adding Fractions
stock turn
Extremes
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%
to determine equivalent single discount rate for 25/10/10 series discount
16-18
Mark Up %
36%
7. cash + receivables/ current liabilities.
When Dividing With Exponents
4%
types of expenses
Quick Ratio
8. Convert 3 to a percent
Sales per Transaction
Simple interest formula
overages
3%
9. Total Net Sales / Total Number of Transactions
Sales per Transaction
types of expenses
to determine equivalent single discount rate for 25/10/10 series discount
Average Daily Sales
10. What happens when your sales are higher than your expenses - etc.
profit
To decrease a number by a given percentage - e.g. decrease 16 by 25%
With cash discounts and calculating net price - when to add freight
improper
11. A/b + c/b = (a+c)/b
Simple interest formula
Average Collection Turnover
$ Retail
Adding Fractions
12. He availability of your money is called _.
Subtracting Fractions
Adding Fractions
Liquidity
transportation
13. Gross Margin/ Average Inventory Cost
GMROI
loss
types of incomes
20%
14. Cash or assets that can quickly be converted into cash.
gross margin
Current Assets
Stock to Sales Ratio
Inventory Turnover Rate
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
Compound interest formula with changing rates
To decrease a number by a given percentage - e.g. decrease 16 by 25%
Gross Margin Return On Inventory Investment (GMROII)
25
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
80/100
The sum of a Geometric Progression
types of liabilities
types of incomes
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
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
$ Retail
Average Collection Turnover
COD
18. Alignment of the decimals is not important
ROG
Gross margin dollars
36%
when multiplying numbers that contain decimals:
19. Convert 70% to a decimal
Effective annual rate of interest formula
Stock to Sales Ratio
Break Even Point Formula
.7
20. Another way of counting part of a whole?
EOM (in terms of invoice)
percent
Subtracting Fractions
overbought
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.
Gross margin dollars
net sales
Gross margin %
DOI
22. After all discounts have been applied to find net amount due. $100 -25% less trade discount -4% cash discount # + $20 freight!
Sell Thru %
62%
$252
With cash discounts and calculating net price - when to add freight
23. A plane flies 980 miles in 1 2/3 hours. How many miles does the plane average per hour
588 mph
Gross margin %
FOB destination
Discounting Formula
24. After 4 years - $5 -000 will grow to how much if it earns 10% interest?
types of incomes
$6 -655.50
Means
types of liabilities
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
.56
Of what number 16 is a 25% increase
OTB (retail)
per hundred
26. Convert 1/4 to a percent
Means
Gross margin %
78
25%
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
1.304
profit and loss statement
$252
percent
28. Liabilities - capital - income
increase=credit
to determine equivalent single discount rate for 25/10/10 series discount
With cash discounts and calculating net price - when to add freight
20%
29. GMROII = GM% x (Sales / Average Value of Inventory)
profit
Gross Margin Return On Inventory Investment (GMROII)
To increase a number by a given percentage - e.g. increase 16 by 25%
DOI
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
To increase a number by a given percentage - e.g. increase 16 by 25%
book value
Break Even Point Formula
types of expenses
31. Original retail price - Lower retail price
90.9%
To increase a number by a given percentage - e.g. increase 16 by 25%
The sum of a Geometric Progression
$ Markdown
32. Convert 80% to a fraction
$ Markdown
physical inventory
14/100
80/100
33. $ retail x (100%-markup)
588 mph
profit and loss statement
$ Cost
cost of goods sold formula (COGS)
34. BOM $ Stock/ Sales for period
Break Even Point Formula
Sell Thru %
Markdown %
Stock to Sales Ratio
35. A/b
90.9%
Dividing Fractions
41%
Gross margin %
36. $ Cost x (100 + Mark-up %) / 100
$ Retail
3%
FOB destination
shortage
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)
Internal Rate of Return
588 mph
per hundred
Sales per Transaction
38. Loss of items due to damaged goods - stealing - etc.
Quick Ratio
cost of goods
shrinkage
Markdown %
39. Net Sales / Average Retail Value of Inventory
GMROI
Inventory Turnover Rate
cost of goods sold formula (COGS)
shortage
40. The wholesale cost of an item (cost of goods - or COG)
Stock to Sales Ratio
net sales
Cost
60
41. accounts receivable/ average daily sales
70%
Average Collection Turnover
EOM (in terms of invoice)
Effective annual rate of interest formula
42. total fixed costs/ selling price-variable cost
50/100
Break Even Point Formula
25%
Break Even Point
43. Convert 56% to a decimal
DOI
.56
50/100
Markdown %
44. Net Sales for period/ Avg Stock for period
Markdown %
Turnover
ROG
Stock to Sales Ratio
45. total annual sales/365
Break Even Point Formula
Average Daily Sales
costs of goods sold
installment loan
46. $ RETAIL X (100 - GM %) / 100
Dividing Fractions
78
$ COST
percent decrease
47. Units Sold/ (Units Sold + On Hand Inventory)
when multiplying numbers that contain decimals:
15
Subtracting Fractions
Sell Thru %
48. When slaes plans are overestimated and the stock purchases result in a stockpiled inventory
percent decrease
378 63
gross margin
overbought
49. Sales - cost of goods sold
Gross margin dollars
cost of goods sold formula (COGS)
overbought
Current Assets
50. Convert 70/100 to a percent
types of incomes
70%
to determine equivalent single discount rate for 25/10/10 series discount
62%