Test your basic knowledge |

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






2. Alignment of the decimals is not important






3. Convert 50% to a fraction






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






5. Convert 14% to a fraction






6. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






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






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






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






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






11. The point at which you stop losing money.






12. Convert 20 to a percent






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






14. Liabilities - capital - income






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






16. Convert 1/4 to a percent






17. Sales - cost of goods sold






18. Beginning inventory + Purchases - Ending inventory






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






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






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






22. total fixed costs/ selling price-variable cost






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






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






25. 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?






26. The wholesale cost of goods plus the markup






27. total annual sales/365






28. Gross Margin/ Average Inventory Cost






29. (Retail - Cost)/ Retail






30. Wholesale cost






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






32. Convert .36 to a percent






33. A/b






34. Convert 65% to a decimal






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






36. 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)






37. Convert 56% to a decimal






38. When refunds or retail price reductions are given to customers - these activities reduce the value of this (also known as initial sales). formula: GS = NS + RED; GS$ = NS$ X GS%






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






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






41. What is the product of 3.26 and 0.4?






42. 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)






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






44. BOM $ Stock/ Sales for period






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






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






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






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






49. Turning assets into cash.






50. Inside numbers in a ratio.