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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 .4 to a percent






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






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






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






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






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






7. 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%






8. 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






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






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






11. What is the product of 3.26 and 0.4?






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






14. The sum of the cost of doing business - except the cost of goods; they include such items as sales persons' salaries - bags - paper and pencils - and cleaning of carpets...






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






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






17. Net Sales for period/ Avg Stock for period






18. Cash on delivery; this dating is used when the vendor does not know the retailer or the retailer does not have a strong line of credit






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






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






21. Convert .36 to a percent






22. The average car will lose _% of its value in the first 4 years.






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






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






25. He availability of your money is called _.






26. Convert 80% to a fraction






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






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






29. total annual sales/365






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






31. The point at which you stop losing money.






32. $ retail x (100%-markup)






33. Convert 41/100 to a percent






34. Outside numbers in a ratio.






35. 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.






36. 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)






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






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






39. (Retail - Cost)/ Retail






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






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






42. total fixed costs/ selling price-variable cost






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






44. After all discounts have been applied to find net amount due. $100 -25% less trade discount -4% cash discount # + $20 freight!






45. 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?






46. current assets/ current liabilities






47. Liabilities - capital - income






48. Convert 65% to a decimal






49. Assets - cost of goods sold - expenses






50. BOM $ Stock/ Sales for period