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Test your basic knowledge |
DSST Business Math
Start Test
Study First
Subjects
:
dsst
,
math
,
business-skills
,
business-math
,
bvat
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. total annual sales/365
Average Daily Sales
16-18
588 mph
$2 -127.66
2. Another name for the P & L statement mainly used by managers planning sales or accountants formulating analyses
income statement
shrinkage
36%
ROG
3. $ Markdown/ $ Net Sales (multiply result by 100 to express as percentage)
125%
overbought
Markdown %
Extremes
4. Outside numbers in a ratio.
types of liabilities
Compound interest formula with changing rates
increase=credit
Extremes
5. Divide the result by 1-the decrease proportion - eg) X=16/(1-0.25)=21.33 - 16 is a 25% decrease of 21.33
Gross margin %
Dividing Fractions
types of incomes
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
6. 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
steps in strategic planning
Average Daily Sales
EOM (in terms of invoice)
Effective annual rate of interest formula
7. After 4 years - $5 -000 will grow to how much if it earns 10% interest?
net sales
Internal Rate of Return
$ Retail
$6 -655.50
8. $ RETAIL X (100 - GM %) / 100
$ COST
Average Daily Sales
Gross margin dollars
types of liabilities
9. The wholesale cost of goods plus the markup
41%
Retail
Average Collection Turnover
cost of goods
10. cash + receivables/ current liabilities.
$2 -127.66
to determine equivalent single discount rate for 25/10/10 series discount
Quick Ratio
DOI
11. Inside numbers in a ratio.
Means
Adding Fractions
Margin %
Of what number 16 is a 25% increase
12. A/b - c/b = a-c/b
increase=credit
types of capital
Break Even Point
Subtracting Fractions
13. A/b + c/b = (a+c)/b
stock turn
ROG
Adding Fractions
15
14. Convert 3 to a percent
Discounting Formula
types of assets
$252
3%
15. Convert 70% to a decimal
36%
.65
Gross margin dollars
.7
16. A measure of the number of days needed to collect accounts receivable.
overbought
transportation
Average Collection Turnover
percent decrease
17. Amount decrease (Original - New) / Original amount = decimal= convert to %
profit
Effective annual rate of interest formula
Discounting Formula
percent decrease
18. Net Sales for period/ Avg Stock for period
Turnover
types of expenses
types of liabilities
1.304
19. Divide the result by 1+the increase proportion eg) X=16/(1+0.25) = 12.8 - 16 is a 25% increase over 12.8
COD
Stock to Sales Ratio
Of what number 16 is a 25% increase
2.5% per month
20. A^m/a^n = a^(m-n)
to determine equivalent single discount rate for 25/10/10 series discount
When Dividing With Exponents
Break Even Point
Discounting Formula
21. Convert 80% to a fraction
profit and loss statement
80/100
Effective annual rate of interest formula
Gross margin dollars
22. A plane flies 980 miles in 1 2/3 hours. How many miles does the plane average per hour
Liquidity of Assets
20%
588 mph
Adding Fractions
23. A fraction in which the denominator is equal to or less than the numerator is a(an) ______________ fraction.
25
4%
FOB destination
improper
24. Sales - cost of goods sold
Compound interest formula with changing rates
36%
Gross margin dollars
Multiplying Fractions
25. total fixed costs/ selling price-variable cost
Break Even Point Formula
378 63
loss
stock turn
26. $ Cost/ (100%-markup%)
$ Retail
Mark Up %
per hundred
$6 -655.50
27. Beginning inventory + Purchases - Ending inventory
increase=credit
cost of goods sold formula (COGS)
Subtracting Fractions
per hundred
28. Accounts receivable - buildings - cash - copyrights - equiptment - furniture and fixtures - land - tomor vehicles
types of assets
gross sales
increase=debit
Mark Up %
29. Wholesale cost
% increase or decrease
Proportion
cost of goods
increase=credit
30. A form of closed-end credit used for purchasing durable goods such as cars
profit
70%
gross margin
installment loan
31. Loss of items due to damaged goods - stealing - etc.
Compound interest formula with changing rates
ROG
shrinkage
36%
32. Convert 41/100 to a percent
Sell Thru %
41%
Current Assets
costs of goods sold
33. Convert 56% to a decimal
Retail
Average Collection Turnover
.56
shortage
34. If freight is to be paid by the seller - the shipping terms are...
gross sales
ROG
FOB destination
Liquidity
35. Direct labor - factory overhead - merchandise inventory - packaging - raw material
Subtracting Fractions
378 63
costs of goods sold
Unit pricing
36. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods
Break Even Point
Current Ratio
Effective annual rate of interest formula
shrinkage
37. current assets/ current liabilities
2.5% per month
Current Ratio
16-18
To decrease a number by a given percentage - e.g. decrease 16 by 25%
38. The point at which you stop losing money.
Break Even Point
The sum of a Geometric Progression
Average Collection Turnover
.65
39. Convert 70/100 to a percent
profit and loss statement
70%
Sales per Transaction
Inventory Turnover Rate
40. Convert 20 to a percent
20%
3%
Retail
COD
41. Gross margin dollars/Net sales dollars (multiply by 100 to express as percentage) or (Selling price - cost) x 100 / Selling price
Current Ratio
types of assets
types of liabilities
Gross margin %
42. 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?
$252
Break Even Point
Inventory Turnover Rate
types of assets
43. Date of invoice - the cash discount terms will have no dating within the discount statement; ex: 4/10 - n/30
DOI
Cost
gross sales
Simple interest formula
44. ($ Retail x 100 / COST) - 100
GMROI
types of incomes
Mark Up %
Stock to Sales Ratio
45. (Retail - Cost)/ Retail
overbought
EOM (in terms of invoice)
Multiplying Fractions
Margin %
46. A count of every item on the floor - in stock rooms - warehouse - etc. to determine whether shortages or overages are occuring
EOM (in terms of invoice)
Dividing Fractions
physical inventory
2.5% per month
47. When sales plans are underestimated and the stock purchases result in a low inventory
Means
types of incomes
588 mph
underbought
48. Multiply the number by 1+the increase proportion - e.g. 16(1+0.25) = 161.25 = 20 - 20 is a 25% increase over 16
16-18
To increase a number by a given percentage - e.g. increase 16 by 25%
$2 -127.66
ROG
49. The recommended house payment should be no more than _% of your monthly take-home pay.
25
% increase or decrease
Mark Up %
$ COST
50. Convert .62 to a percent
overages
588 mph
62%
COD