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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. 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)






2. 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






3. Two equivalent ratios joined by an equal sign.






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






5. $ retail x (100%-markup)






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






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






8. (Retail - Cost)/ Retail






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






10. 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...






11. 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






12. Alignment of the decimals is not important






13. Convert 1.25 to a percent






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






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






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






17. 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






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






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






20. Convert 3 to a percent






21. Convert 50% to a fraction






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






23. A fraction in which the denominator is equal to or less than the numerator is a(an) ______________ fraction.






24. 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






25. Convert 70/100 to a percent






26. Wholesale cost






27. The wholesale cost of goods plus the markup






28. Liabilities - capital - income






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






30. Convert 14% to a fraction






31. Convert 20 to a percent






32. Inside numbers in a ratio.






33. cash + receivables/ current liabilities.






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






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






36. A/b






37. What does percent mean?






38. A/b






39. 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.






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






41. Outside numbers in a ratio.






42. Convert 56% to a decimal






43. Convert .36 to a percent






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






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






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






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






48. Convert .4 to a percent






49. Turning assets into cash.






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