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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. 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






2. 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%






3. $ RETAIL X (100 - GM %) / 100






4. What does percent mean?






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. What is the product of 3.26 and 0.4?






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






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






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






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






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






12. 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)






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






14. A/b






15. $ retail x (100%-markup)






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






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






18. Beginning inventory + Purchases - Ending inventory






19. Outside numbers in a ratio.






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






21. $ Cost x (100 + Mark-up %) / 100






22. Two equivalent ratios joined by an equal sign.






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






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






26. Alignment of the decimals is not important






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






28. Convert 1/4 to a percent






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






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






31. Gross Margin/ Average Inventory Cost






32. He availability of your money is called _.






33. Liabilities - capital - income






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






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






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






37. Convert .62 to a percent






38. Convert .4 to a percent






39. Convert 70% to a decimal






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






41. 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...






42. accounts receivable/ average daily sales






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






44. 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






45. Convert 20 to a percent






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






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






48. Divide the result by 1+the increase proportion eg) X=16/(1+0.25) = 12.8 - 16 is a 25% increase over 12.8






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






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