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






2. The point at which you stop losing money.






3. Advertising - bad debt expense - conributions and donations - depreciation - educational expense - insurance - interest expense - licenses - office supplies - postage - rent - repairs - salaries and wages - supplies - taxes - travel and transportatio






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






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






6. accounts receivable/ average daily sales






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






8. A measure of the number of days needed to collect accounts receivable.






9. Net Sales / Average Retail Value of Inventory






10. Convert .4 to a percent






11. Inside numbers in a ratio.






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






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






14. Receipt of goods; the cash discount period and net period begin with the date of receipt of goods; ex: 8/10 ROG - n/30






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






16. 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






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






18. Convert 20 to a percent






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






20. Convert 14% to a fraction






21. 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.






22. What is the product of 3.26 and 0.4?






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






24. Alignment of the decimals is not important






25. BOM $ Stock/ Sales for period






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






27. 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%






28. Convert 1.25 to a percent






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






30. 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?






31. Beginning inventory + Purchases - Ending inventory






32. 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






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






34. Total Net Sales / Total Number of Transactions






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






36. 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






37. Convert 56% to a decimal






38. Another way of counting part of a whole?






39. Original retail price - Lower retail price






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






41. Convert 3 to a percent






42. Convert 65% to a decimal






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






44. Two equivalent ratios joined by an equal sign.






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






46. Outside numbers in a ratio.






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






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






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






50. Convert 10/11 to a percent






Can you answer 50 questions in 15 minutes?



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