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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 3 to a percent






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






3. Total Net Sales / Total Number of Transactions






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






5. Convert .62 to a percent






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






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






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






9. Convert .4 to a percent






10. The wholesale cost of goods plus the markup






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






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






13. Beginning inventory + Purchases - Ending inventory






14. 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






15. A/b






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






17. 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?






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






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






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






21. 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






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






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






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






25. Convert 50% to a fraction






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






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






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






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






30. He availability of your money is called _.






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






32. Convert 1/4 to a percent






33. total annual sales/365






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






35. A/b






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






37. 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.






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






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






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






42. 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?






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






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






45. Original retail price - Lower retail price






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






47. 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






48. What does percent mean?






49. 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






50. Convert 41/100 to a percent