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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. Another way of counting part of a whole?






2. Convert 65% to a decimal






3. 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%






4. What does percent mean?






5. 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?






6. Gross Margin/ Average Inventory Cost






7. Total Net Sales / Total Number of Transactions






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






9. Convert 10/11 to a percent






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






11. Convert .36 to a percent






12. BOM $ Stock/ Sales for period






13. Convert 50% to a fraction






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






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






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






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






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






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






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






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






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






23. End of month; dating starts with the end of the month and the invoice is to be paid within the specified number of days after the end of the month in which goods are invoiced; ex: 8/10 EOM - n/90






24. Convert 1.25 to a percent






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






26. Two equivalent ratios joined by an equal sign.






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






28. $ Cost/ (100%-markup%)






29. Convert 70/100 to a percent






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






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






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






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






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






35. What is the product of 3.26 and 0.4?






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






37. Liabilities - capital - income






38. A/b






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






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






41. Convert 70% to a decimal






42. 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)






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






44. Sales - cost of goods sold






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






46. 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...






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






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






49. Turning assets into cash.






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







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Can you answer 50 questions in 15 minutes?


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