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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. (Retail - Cost)/ Retail






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






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






4. The wholesale cost of goods plus the markup






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






6. total annual sales/365






7. 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...






8. Convert 1.25 to a percent






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






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






11. Convert 56% to a decimal






12. Convert 65% to a decimal






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






14. The cost of moving from the vendor's warehouse (loading dock) to the retail warehouse or store (loading dock) - may also include insurance to cover the merchandise while in transit






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






16. Wholesale cost






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






18. Formula: GM = NS - COG; GM$ = NS$ X GM%






19. An electronics store is having a 40 percent off sale. Robert has been saving to purchase a stereo system that was originally priced at $420. If Robert purchases the system during the sale - what will be the cost?






20. A/b






21. Convert 10/11 to a percent






22. cash + receivables/ current liabilities.






23. Convert 50% to a fraction






24. Total Net Sales / Total Number of Transactions






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






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






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






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






29. Another way of counting part of a whole?






30. Convert 70/100 to a percent






31. Beginning inventory + Purchases - Ending inventory






32. Convert 70% to a decimal






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






34. Assets - cost of goods sold - expenses






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






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






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






38. 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)






39. Convert 41/100 to a percent






40. accounts receivable/ average daily sales






41. What is the product of 3.26 and 0.4?






42. 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?






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






44. 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?






45. BOM $ Stock/ Sales for period






46. Convert .4 to a percent






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






48. Convert 1/4 to a percent






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






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