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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. He availability of your money is called _.






2. Beginning inventory + Purchases - Ending inventory






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






4. 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)






5. cash + receivables/ current liabilities.






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






7. 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






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






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






10. Convert 56% to a decimal






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






12. $ retail x (100%-markup)






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






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






15. To take advantage of the 6% cash discount - a retailer made a $2 -000 partial payment during the discount period. How much was the retailer credited for the $2 -000 partial payment?






16. Commissions - fees for service - merchandise sales - rental income - royalties






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






18. 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






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






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






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






22. 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






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






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






25. Convert .36 to a percent






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






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






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






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






30. Convert 41/100 to a percent






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






32. Convert 20 to a percent






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






34. The point at which you stop losing money.






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






36. BOM $ Stock/ Sales for period






37. Net Sales for period/ Avg Stock for period






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






39. A/b






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






41. 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?






42. Convert 1/4 to a percent






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






44. Outside numbers in a ratio.






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






46. Convert 70% to a decimal






47. 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






48. Direct labor - factory overhead - merchandise inventory - packaging - raw material






49. What does percent mean?






50. Convert 70/100 to a percent







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Can you answer 50 questions in 15 minutes?


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