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






2. The point at which you stop losing money.






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






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






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






6. Net Sales / Average Retail Value of Inventory






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






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






9. Convert 1.25 to a percent






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






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






12. $ retail x (100%-markup)






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






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






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






16. Convert .36 to a percent






17. Liabilities - capital - income






18. current assets/ current liabilities






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






20. Inside numbers in a ratio.






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






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






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






24. 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






25. Assets - cost of goods sold - expenses






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






27. Gross Margin/ Average Inventory Cost






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






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






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






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






32. Convert 56% to a decimal






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






34. What does percent mean?






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






36. What is the product of 3.26 and 0.4?






37. Convert 41/100 to a percent






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






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






40. Convert .4 to a percent






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






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






43. A/b






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






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






46. total fixed costs/ selling price-variable cost






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






48. Shortage$ = book$ - physical count$; shortage% = shortage$/NS$






49. Convert 80% to a fraction






50. 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%