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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 41/100 to a percent






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






3. A/b






4. Convert 10/11 to a percent






5. Convert 70/100 to a percent






6. 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%






7. Inside numbers in a ratio.






8. BOM $ Stock/ Sales for period






9. 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)






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






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






12. 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)






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






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






15. Convert 56% to a decimal






16. 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






17. Alignment of the decimals is not important






18. cash + receivables/ current liabilities.






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






20. total annual sales/365






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






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






23. 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.






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






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






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






27. $ Markdown/ $ Net Sales (multiply result by 100 to express as percentage)






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






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






30. Convert 1/4 to a percent






31. Rose borrowed money to buy a ring priced at $420. When she repaid the loan at the end of 3 months - the interest charge was $31.50. What was the rate of interest?






32. 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?






33. Total Net Sales / Total Number of Transactions






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






35. 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






36. Sales - cost of goods sold






37. The cost of moving from the vendor's warehouse (loading dock) to the retail warehouse or store (loading dock) - may also include insurance to cover the merchandise while in transit






38. Liabilities - capital - income






39. Two equivalent ratios joined by an equal sign.






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






41. 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






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






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






44. He availability of your money is called _.






45. Convert 14% to a fraction






46. Convert .62 to a percent






47. Convert .4 to a percent






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






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






50. total fixed costs/ selling price-variable cost