## Test your basic knowledge |

# 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. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods**

**2. The point at which you stop losing money.**

**3. The average person will have _ jobs in their lifetime.**

**4. Alignment of the decimals is not important**

**5. 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?**

**6. Wholesale cost**

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

**8. Convert 20 to a percent**

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

**10. Convert 56% to a decimal**

**11. cash + receivables/ current liabilities.**

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

**13. Convert 70/100 to a percent**

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

**15. 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)**

**16. Convert .62 to a percent**

**17. Net Sales for period/ Avg Stock for period**

**18. (Retail - Cost)/ Retail**

**19. A^m/a^n = a^(m-n)**

**20. 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**

**21. A/b + c/b = (a+c)/b**

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

**23. % of 90 days same as cash convert to payments.**

**24. $ retail x (100%-markup)**

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

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

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

**28. accounts receivable/ average daily sales**

**29. Two equivalent ratios joined by an equal sign.**

**30. 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**

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

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

**33. Convert 41/100 to a percent**

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

**35. Convert 1.25 to a percent**

**36. 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**

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

**38. Liabilities - capital - income**

**39. current assets/ current liabilities**

**40. 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?**

**41. Assets - cost of goods sold - expenses**

**42. What is the product of 3.26 and 0.4?**

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

**44. ($ Retail x 100 / COST) - 100**

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

**46. Turning assets into cash.**

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

**48. Another way of counting part of a whole?**

**49. Cash or assets that can quickly be converted into cash.**

**50. cost of an item expressed per unit of measure or count.**