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Test your basic knowledge 
DSST Business Math
Start Test
Study First
Subjects
:
dsst
,
math
,
businessskills
,
businessmath
,
bvat
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 reenforces your understanding as you take the test each time.
1. Convert .62 to a percent
book value
588 mph
90.9%
62%
2. Divide the result by 1the decrease proportion  eg) X=16/(10.25)=21.33  16 is a 25% decrease of 21.33
To find the number from which a percentage has been deducted to achieve it  e.g. of what number is 16 a 25% decrease?
60
DOI
Proportion
3. When slaes plans are overestimated and the stock purchases result in a stockpiled inventory
Quick Ratio
when multiplying numbers that contain decimals:
Adding Fractions
overbought
4. What does percent mean?
$ Retail
increase=credit
To increase a number by a given percentage  e.g. increase 16 by 25%
per hundred
5. A team won 16 games and lost 9 games. What percent of games did the team lose?
70%
Quick Ratio
Liquidity
36%
6. Shortage$ = book$  physical count$; shortage% = shortage$/NS$
ROG
The sum of a Geometric Progression
shortage
25%
7. Receipt of goods; the cash discount period and net period begin with the date of receipt of goods; ex: 8/10 ROG  n/30
25%
Means
78
ROG
8. Aka  the terminal value of an investment to which equal annual amounts will be added S=[A(R^n 1)]/R1 Where: S=the terminal value A=the first term R=the common ratio n=the number of terms
The sum of a Geometric Progression
FOB destination
Mark Up %
62%
9. BOM $ Stock/ Sales for period
profit
Sell Thru %
Stock to Sales Ratio
Mark Up %
10. Accounts payable  bonds  notes payable (bank loans)  provisions for pensions
types of liabilities
$2 127.66
To find the number from which a percentage has been deducted to achieve it  e.g. of what number is 16 a 25% decrease?
per hundred
11. A plane flies 980 miles in 1 2/3 hours. How many miles does the plane average per hour
The sum of a Geometric Progression
Gross margin %
588 mph
$ COST
12. Wholesale cost
Extremes
underbought
shrinkage
cost of goods
13. Direct labor  factory overhead  merchandise inventory  packaging  raw material
cost of goods sold formula (COGS)
costs of goods sold
With cash discounts and calculating net price  when to add freight
14/100
14. Convert .36 to a percent
DOI
50/100
36%
Stock to Sales Ratio
15. 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 $1000 @ 10% simple interest for 5 years = 1000+(50.101000)
Simple interest formula
steps in strategic planning
Extremes
Markup
16. The difference between the retail price and the cost of goods sold; it includes operating expenses  retail reductions  and profit
Dividing Fractions
Markup
Mark Up %
Multiplying Fractions
17. Convert 10/11 to a percent
netprice with a 25/10/10 series discount
gross sales
90.9%
Extremes
18. He availability of your money is called _.
Liquidity
Break Even Point Formula
cost of goods
Simple interest formula
19. A value or an expression of how fast merchandise moves through the store; also called turn. formula: turn  NS$ / Average Stock$ (average stock$ = BOM$ + EOM$)/(#BOM + 1)
To increase a number by a given percentage  e.g. increase 16 by 25%
stock turn
$ Markdown
36%
20. cost of an item expressed per unit of measure or count.
Unit pricing
62%
Means
15
21. The average car will lose _% of its value in the first 4 years.
gross sales
Sell Thru %
increase=credit
60
22. IRR=1 + [(NPV1/NPV1NPV2)(21)]% Where: 1=one interest rate 2=the other NPV1=the NPV at rate 1 NPV2=the NPV at rate 2 (NPV = Net Present Value)
2.5% per month
125%
Internal Rate of Return
To increase a number by a given percentage  e.g. increase 16 by 25%
23. Convert 65% to a decimal
.65
Gross Margin Return On Inventory Investment (GMROII)
Current Ratio
Of what number 16 is a 25% increase
24. ($ Retail x 100 / COST)  100
4%
cost of goods
gross sales
Mark Up %
25. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods
ROG
profit and loss statement
types of capital
Effective annual rate of interest formula
26. Convert 1.25 to a percent
Discounting Formula
DOI
net sales
125%
27. $ retail x (100%markup)
36%
1618
operating expenses
$ Cost
28. 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...
60
operating expenses
book value
$252
29. (TYLY)/ LY or (PlanActual)/
FOB destination
increase=credit
Current Assets
% increase or decrease
30. Sales  cost of goods sold
Turnover
underbought
Gross margin dollars
$ COST
31. Convert 20 to a percent
20%
profit
increase=debit
4%
32. 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.
net sales
installment loan
$ Retail
$252
33. $ Markdown/ $ Net Sales (multiply result by 100 to express as percentage)
588 mph
Gross Margin Return On Inventory Investment (GMROII)
25%
Markdown %
34. A/b
78
Multiplying Fractions
loss
Gross margin %
35. Planned Sales + Planned Markdowns + Planned EOM  Planned BOM
Sales per Transaction
net sales
$ Retail
OTB (retail)
36. Formula: GM = NS  COG; GM$ = NS$ X GM%
cost of goods
Proportion
gross margin
Discounting Formula
37. Assets  cost of goods sold  expenses
increase=debit
Dividing Fractions
Internal Rate of Return
To find the number from which a percentage has been deducted to achieve it  e.g. of what number is 16 a 25% decrease?
38. Liabilities  capital  income
Unit pricing
Extremes
increase=credit
types of expenses
39. Convert 70% to a decimal
types of capital
.7
increase=debit
increase=credit
40. Two equivalent ratios joined by an equal sign.
overbought
Turnover
Proportion
Average Collection Turnover
41. Original retail price  Lower retail price
$ Markdown
$2 127.66
Sales per Transaction
types of expenses
42. Another name for the P & L statement mainly used by managers planning sales or accountants formulating analyses
income statement
62%
Markup
GMROI
43. 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
COD
percent
Of what number 16 is a 25% increase
netprice with a 25/10/10 series discount
44. Multiply the number by 1the decrease proportion  e.g. 16(10.25) = 160.75 = 12  12 is a 25% decrease of 16
To increase a number by a given percentage  e.g. increase 16 by 25%
overbought
percent
To decrease a number by a given percentage  e.g. decrease 16 by 25%
45. current assets/ current liabilities
Gross margin dollars
Current Ratio
Of what number 16 is a 25% increase
$ Cost
46. Total Net Sales / Total Number of Transactions
ROG
% increase or decrease
Sales per Transaction
types of assets
47. You should never take out more than a _ year mortgage.
Turnover
15
Compound interest formula with changing rates
gross margin
48. cash + receivables/ current liabilities.
Quick Ratio
increase=debit
profit and loss statement
70%
49. Capital stock  owner's equity (owner's funds invested in the business)
stock turn
netprice with a 25/10/10 series discount
types of capital
$6 655.50
50. What happens when your sales are higher than your expenses  etc.
.7
profit
.65
Internal Rate of Return