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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. Accounts payable - bonds - notes payable (bank loans) - provisions for pensions






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






3. 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...






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






5. Original retail price - Lower retail price






6. 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






7. Convert 20 to a percent






8. Convert 80% to a fraction






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






10. Convert 3 to a percent






11. Outside numbers in a ratio.






12. Convert .62 to a percent






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






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






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






16. Convert 41/100 to a percent






17. 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?






18. A/b






19. What does percent mean?






20. 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






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






22. 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?






23. When refunds or retail price reductions are given to customers - these activities reduce the value of this (also known as initial sales). formula: GS = NS + RED; GS$ = NS$ X GS%






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






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






26. Net Sales for period/ Avg Stock for period






27. 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.






28. Two equivalent ratios joined by an equal sign.






29. 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?






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






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






32. cash + receivables/ current liabilities.






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






34. X=S*[1/(1+r)^n] Where: S=the sum to be received after n time periods X=the present value of that sum r=the rate of return (as a proportion) n=the number of time periods - r - rate - is sometimes called cost of capital






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






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






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






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






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






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






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






42. total fixed costs/ selling price-variable cost






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






44. Convert 70/100 to a percent






45. Convert 56% to a decimal






46. Convert 1/4 to a percent






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






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






49. Inside numbers in a ratio.






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







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Can you answer 50 questions in 15 minutes?


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