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






2. A form of closed-end credit used for purchasing durable goods such as cars






3. 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%






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






5. Convert 65% to a decimal






6. What is the product of 3.26 and 0.4?






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






8. Net Sales / Average Retail Value of Inventory






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






10. Assets - cost of goods sold - expenses






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






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






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






14. (Retail - Cost)/ Retail






15. Convert .36 to a percent






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






17. Convert 1.25 to a percent






18. Convert 56% to a decimal






19. Convert .4 to a percent






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. total fixed costs/ selling price-variable cost






22. Two equivalent ratios joined by an equal sign.






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






24. $ retail x (100%-markup)






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






26. Multiply the number by 1+the increase proportion - e.g. 16(1+0.25) = 161.25 = 20 - 20 is a 25% increase over 16






27. Convert 1/4 to a percent






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






29. Date of invoice - the cash discount terms will have no dating within the discount statement; ex: 4/10 - n/30






30. He availability of your money is called _.






31. Total Net Sales / Total Number of Transactions






32. 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...






33. 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)






34. The wholesale cost of goods plus the markup






35. 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.






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






37. Beginning inventory + Purchases - Ending inventory






38. Convert .62 to a percent






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






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






41. 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






42. Wholesale cost






43. Convert 3 to a percent






44. cash + receivables/ current liabilities.






45. Planned Sales + Planned Markdowns + Planned EOM - Planned BOM






46. A/b






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






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






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






50. 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