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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. Sales - cost of goods sold






2. Convert 20 to a percent






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






4. 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)






5. What is the product of 3.26 and 0.4?






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






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






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






9. Inside numbers in a ratio.






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






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






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






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






14. Wholesale cost






15. Convert 3 to a percent






16. Convert 10/11 to a percent






17. Another way of counting part of a whole?






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






19. Divide the result by 1-the decrease proportion - eg) X=16/(1-0.25)=21.33 - 16 is a 25% decrease of 21.33






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






21. Convert .4 to a percent






22. accounts receivable/ average daily sales






23. Liabilities - capital - income






24. total fixed costs/ selling price-variable cost






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






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






27. Formula: GM = NS - COG; GM$ = NS$ X GM%






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






29. 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?






30. ($ Retail x 100 / COST) - 100






31. Convert 50% to a fraction






32. total annual sales/365






33. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






34. Convert 1/4 to a percent






35. Total Net Sales / Total Number of Transactions






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






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






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






39. Original retail price - Lower retail price






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






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






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






43. Outside numbers in a ratio.






44. Convert 14% to a fraction






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






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






47. 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)






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






49. current assets/ current liabilities






50. Convert .36 to a percent