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






2. (TY-LY)/ LY or (Plan-Actual)/






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






4. Net Sales for period/ Avg Stock for period






5. A^m/a^n = a^(m-n)






6. Gross Margin/ Average Inventory Cost






7. Outside numbers in a ratio.






8. Cash on delivery; this dating is used when the vendor does not know the retailer or the retailer does not have a strong line of credit






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






10. Convert .62 to a percent






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






12. Net Sales / Average Retail Value of Inventory






13. Turning assets into cash.






14. Sales - cost of goods sold






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






17. 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






18. Convert 1.25 to a percent






19. Convert 80% to a fraction






20. 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)






21. Convert 56% to a decimal






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






23. A/b






24. Convert .4 to a percent






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






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






27. Wholesale cost






28. The point at which you stop losing money.






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






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






31. (Retail - Cost)/ Retail






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






33. To take advantage of the 6% cash discount - a retailer made a $2 -000 partial payment during the discount period. How much was the retailer credited for the $2 -000 partial payment?






34. Two equivalent ratios joined by an equal sign.






35. Liabilities - capital - income






36. Beginning inventory + Purchases - Ending inventory






37. Convert 10/11 to a percent






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






39. What does percent mean?






40. Convert 65% to a decimal






41. A/b - c/b = a-c/b






42. 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






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






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






45. The wholesale cost of goods plus the markup






46. cost of an item expressed per unit of measure or count.






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






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






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






50. What is the product of 3.26 and 0.4?







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Can you answer 50 questions in 15 minutes?


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