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






2. Liabilities - capital - income






3. Convert 56% to a decimal






4. 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






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






6. When refunds or retail price reductions are given to customers - these activities reduce the value of this (also known as initial sales). formula: GS = NS + RED; GS$ = NS$ X GS%






7. total fixed costs/ selling price-variable cost






8. Convert 65% to a decimal






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






10. 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






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






12. He availability of your money is called _.






13. What does percent mean?






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






15. 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%






16. 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...






17. A/b






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






19. Convert 50% to a fraction






20. Convert 1/4 to a percent






21. Convert 20 to a percent






22. 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)






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






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






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






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






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






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






29. Gross Margin/ Average Inventory Cost






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






31. Outside numbers in a ratio.






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






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






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






35. current assets/ current liabilities






36. 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






37. Convert 70/100 to a percent






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






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






40. Inside numbers in a ratio.






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






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






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






44. Wholesale cost






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






46. 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?






47. Beginning inventory + Purchases - Ending inventory






48. Net Sales / Average Retail Value of Inventory






49. (Retail - Cost)/ Retail






50. Convert 41/100 to a percent