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






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






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






4. 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)






5. The wholesale cost of goods plus the markup






6. Convert 80% to a fraction






7. total annual sales/365






8. Convert .36 to a percent






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






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






11. Use compliments - Step 1 Find compliments 25% = 100-25%= 75% - 10%= 90% - 10%=90% Step 2 Multiple Compliments 75%x90%x90% .75x.90x.90= .6075 Step 3 Convert to Percentage .6075= 60.75% Step 4 Compliment it 100%-60.75%= 39.35%






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






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






14. Convert 20 to a percent






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






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






17. Amount decrease (Original - New) / Original amount = decimal= convert to %






18. 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?






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






20. He availability of your money is called _.






21. $ retail x (100%-markup)






22. 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






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






24. Convert 1/4 to a percent






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






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






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






28. 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?






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






30. The point at which you stop losing money.






31. 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.






32. Convert 41/100 to a percent






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






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






35. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






36. Beginning inventory + Purchases - Ending inventory






37. 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






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






39. GMROII = GM% x (Sales / Average Value of Inventory)






40. Net Sales for period/ Avg Stock for period






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






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






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






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






45. Convert 1.25 to a percent






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






47. What does percent mean?






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






49. A/b






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