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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. current assets/ current liabilities






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






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






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






5. A/b






6. Aka - the terminal value of an investment to which equal annual amounts will be added S=[A(R^n -1)]/R-1 Where: S=the terminal value A=the first term R=the common ratio n=the number of terms






7. Liabilities - capital - income






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






9. Convert 56% to a decimal






10. The point at which you stop losing money.






11. 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.






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






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






14. Turning assets into cash.






15. 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%






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






17. Beginning inventory + Purchases - Ending inventory






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






19. 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






20. Another way of counting part of a whole?






21. Net Sales / Average Retail Value of Inventory






22. accounts receivable/ average daily sales






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






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






25. BOM $ Stock/ Sales for period






26. Two equivalent ratios joined by an equal sign.






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






28. cash + receivables/ current liabilities.






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






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






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






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






33. The average person will have _ jobs in their lifetime.






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






35. Convert 65% to a decimal






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






37. 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






38. 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)






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






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






41. % of 90 days same as cash convert to payments.






42. The value of the inventory as kept in the handwritten ledgers or computer system; formula: book$ = merchandise available$ - NS$ - (MD$ + ED$)






43. 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?






44. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






45. Convert 80% to a fraction






46. Convert .36 to a percent






47. Convert 1.25 to a percent






48. Convert 3 to a percent






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






50. 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...