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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. Convert 65% to a decimal






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






3. A formal document that is used for a variety of functions within a retail business; it provides a big picture look at the succinct expression of the sales - markup - and profit for a business






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






5. Another way of counting part of a whole?






6. Outside numbers in a ratio.






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






8. The point at which you stop losing money.






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






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






11. Convert 1/4 to a percent






12. 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)






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






14. A/b + c/b = (a+c)/b






15. He availability of your money is called _.






16. Two equivalent ratios joined by an equal sign.






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






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






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






20. What does percent mean?






21. Gross Margin/ Average Inventory Cost






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






23. Convert 41/100 to a percent






24. Total Net Sales / Total Number of Transactions






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






26. cash + receivables/ current liabilities.






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






29. Convert 10/11 to a percent






30. Sales - cost of goods sold






31. Alignment of the decimals is not important






32. Accounts payable - bonds - notes payable (bank loans) - provisions for pensions






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






34. A/b






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






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






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






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






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






40. X=S*[1/(1+r)^n] Where: S=the sum to be received after n time periods X=the present value of that sum r=the rate of return (as a proportion) n=the number of time periods - r - rate - is sometimes called cost of capital






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






42. The wholesale cost of an item (cost of goods - or COG)






43. Wholesale cost






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






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






46. Convert 70% to a decimal






47. A value or an expression of how fast merchandise moves through the store; also called turn. formula: turn - NS$ / Average Stock$ (average stock$ = BOM$ + EOM$)/(#BOM + 1)






48. Convert 1.25 to a percent






49. Net Sales / Average Retail Value of Inventory






50. total annual sales/365