DSST Business Math
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DSST Business Math
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25 Questions

1. 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.

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

3. A/b

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

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

6. 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?

7. Convert 70% to a decimal

8. 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

9. Wholesale cost

10. Convert .4 to a percent

11. 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)

12. Convert 70/100 to a percent

13. The wholesale cost of goods plus the markup

14. Original retail price - Lower retail price

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

16. End of month; dating starts with the end of the month and the invoice is to be paid within the specified number of days after the end of the month in which goods are invoiced; ex: 8/10 EOM - n/90

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

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

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

20. Convert 14% to a fraction

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

22. Convert 20 to a percent

23. total fixed costs/ selling price-variable cost

24. Convert 1.25 to a percent

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

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