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






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






3. current assets/ current liabilities






4. What does percent mean?






5. $ retail x (100%-markup)






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






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






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






9. Beginning inventory + Purchases - Ending inventory






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






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






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






13. Accounts receivable - buildings - cash - copyrights - equiptment - furniture and fixtures - land - tomor vehicles






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






15. accounts receivable/ average daily sales






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






17. Convert 56% to a decimal






18. Two equivalent ratios joined by an equal sign.






19. Convert 80% to a fraction






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






21. Divide the result by 1+the increase proportion eg) X=16/(1+0.25) = 12.8 - 16 is a 25% increase over 12.8






22. 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






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






24. 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%






25. Gross Margin/ Average Inventory Cost






26. After 4 years - $5 -000 will grow to how much if it earns 10% interest?






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






28. Convert 50% to a fraction






29. cash + receivables/ current liabilities.






30. total annual sales/365






31. 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






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






33. Convert 1/4 to a percent






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






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






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






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






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






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






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






41. Convert 70/100 to a percent






42. Convert 70% to a decimal






43. Convert 10/11 to a percent






44. 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






45. Convert 20 to a percent






46. Convert 65% to a decimal






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






48. S=X+nrX Where: X=the original sum invested r=the interest rate (as a proportion - e.g. 0.05=5%) n=the number of periods S=the sum invested after n periods (capital + interest) - e.g. invest $1000 @ 10% simple interest for 5 years = 1000+(50.101000)






49. A form of closed-end credit used for purchasing durable goods such as cars






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