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






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






3. 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)






4. Convert 65% to a decimal






5. Convert .4 to a percent






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






7. Convert 70/100 to a percent






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






9. Two equivalent ratios joined by an equal sign.






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






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






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






13. 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.






14. The point at which you stop losing money.






15. current assets/ current liabilities






16. $ RETAIL X (100 - GM %) / 100






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






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






19. Outside numbers in a ratio.






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






21. Convert 1/4 to a percent






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






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






24. The value of the inventory as kept in the handwritten ledgers or computer system; formula: book$ = merchandise available$ - NS$ - (MD$ + ED$)






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. Liabilities - capital - income






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






28. Another way of counting part of a whole?






29. Assets - cost of goods sold - expenses






30. 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






31. A/b






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






33. The average person will have _ jobs in their lifetime.






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






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






36. What is the product of 3.26 and 0.4?






37. accounts receivable/ average daily sales






38. A/b






39. Gross Margin/ Average Inventory Cost






40. 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?






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






42. Convert 70% to a decimal






43. Accounts receivable - buildings - cash - copyrights - equiptment - furniture and fixtures - land - tomor vehicles






44. BOM $ Stock/ Sales for period






45. Net Sales / Average Retail Value of Inventory






46. Total Net Sales / Total Number of Transactions






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






48. He availability of your money is called _.






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






50. Alignment of the decimals is not important