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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. You should never take out more than a _ year mortgage.






2. Convert 1.25 to a percent






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






4. Convert 20 to a percent






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






6. Convert 50% to a fraction






7. Gross Margin/ Average Inventory Cost






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






9. cash + receivables/ current liabilities.






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






11. 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






12. total annual sales/365






13. 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






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






15. BOM $ Stock/ Sales for period






16. A/b






17. Convert 1/4 to a percent






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






19. Convert .4 to a percent






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






21. A count of every item on the floor - in stock rooms - warehouse - etc. to determine whether shortages or overages are occuring






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






23. The difference between the retail price and the cost of goods sold; it includes operating expenses - retail reductions - and profit






24. What is the product of 3.26 and 0.4?






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






26. Convert 80% to a fraction






27. Convert .62 to a percent






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






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






30. Another way of counting part of a whole?






31. Inside numbers in a ratio.






32. $ retail x (100%-markup)






33. Convert 65% to a decimal






34. Outside numbers in a ratio.






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






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






37. Beginning inventory + Purchases - Ending 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. Loss of items due to damaged goods - stealing - etc.






40. Two equivalent ratios joined by an equal sign.






41. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






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






43. Convert 10/11 to a percent






44. total fixed costs/ selling price-variable cost






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






46. 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






47. What does percent mean?






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






49. He availability of your money is called _.






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