Test your basic knowledge |

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. Total Net Sales / Total Number of Transactions






2. (Retail - Cost)/ Retail






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






4. Wholesale cost






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






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






7. 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.






8. Start with list price - List price: $6400 x 25% - x 10% - x10% % - Taken one after another(subtract)






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






10. 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%






11. 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?






12. The recommended house payment should be no more than _% of your monthly take-home pay.






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






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






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






16. total annual sales/365






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






18. Convert 1/4 to a percent






19. 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






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






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






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






23. Another way of counting part of a whole?






24. total fixed costs/ selling price-variable cost






25. $ retail x (100%-markup)






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






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






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






29. Overage$ = book$ - physical count$; overage% = overage$/NS$






30. 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)






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






32. Gross Margin/ Average Inventory Cost






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






34. Convert 56% to a decimal






35. Outside numbers in a ratio.






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






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)






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






39. accounts receivable/ average daily sales






40. Convert .36 to a percent






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






42. Two equivalent ratios joined by an equal sign.






43. Rose borrowed money to buy a ring priced at $420. When she repaid the loan at the end of 3 months - the interest charge was $31.50. What was the rate of interest?






44. Convert 80% to a fraction






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






46. The wholesale cost of an item (cost of goods - or COG)






47. Commissions - fees for service - merchandise sales - rental income - royalties






48. 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...






49. Gross margin dollars/Net sales dollars (multiply by 100 to express as percentage) or (Selling price - cost) x 100 / Selling price






50. Convert 41/100 to a percent







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests