SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
Business Fundamentals
Start Test
Study First
Subject
:
business-skills
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. Agreement to produce and market another company's product in exchange for a royalty or fee
license
Procedure
debt-to-total-assets ratio
marketing strategy
2. Measures income earned on owners' investment - formula: Net income/total owners' equity
Real GDP
return on equity ratio
activity ratios
budget
3. Wide variety of persuasive techniques used by companies to communicate with their target markets and the general public
telemarketing
revenues
it produces the greatest amount of good for the greatest number
promotion
4. Stocks - bonds - and other investments that can be turned into cash quickly
Physical Distribution
Corporate Strategy
marketable securities
advertising
5. Where products are conveniently placed for customers
downsizing
place utility
Closely Held (or Private) Corporation
brand managers
6. Illegal practice of using special knowledge about a firm for profit or gain
advertising
Business Ethics
Insider Trading
inventory turnover ratio
7. Product made or grown domestically but sold abroad
Export
institutional advertising
Corporate Bond
Exchange Rate
8. The way you live as measure by the kinds and quality of goods and services you can afford
Standard of Living
Natural monopoly
Tall Organizational Structure
Environmental Analysis
9. Postsales reductions in price - must be applied for by the purchaser
middle management
Multinational (or Transnational) Corporation
rebates
methods of finance for an expanding business
10. The willingness and ability of buyers to purchase a good or service
need
Strategic Management
Unethical Behavior
Demand
11. Advertising that tries to sell specific goods or services - generally by describing features - benefits - and occasionally - price
return on equity ratio
product advertising
form utility
psychographics
12. The purchase of one company by another
Common Law
strategic marketing planning
Acquisition
cost based pricing
13. Customer value created by converting raw materials and other inputs into finished goods and services
psychographics
Policy
form utility
Organizational Stakeholders
14. Strategu for determining a firm's overall attitude toward growth and the way it will manage its business or product lines
cash basis
maturity stage
accounts receivable
Corporate Strategy
15. Ratios that measure a firm's ability to meet its short-term obligations when they are due - judged on the basis of working capital - current ratio - and quick ratio
liquidity ratios
credit
positive reinforcement
Management Information System (MIS)
16. A ____ is an agreement between two parties to carry out a transaction - such as the sale of goods from a seller to buyer.
push strategy
Strategy
contract
Organizational Structure
17. Nonsales communication that businesses have with their various audiences
public relations
decision-making role
Merger
marketing concept
18. Cash and items that can be turned into cash within one year
Merger
responsibilities of a financial manager
current assets
assets equation
19. Complete list of all products that a company offers for sale
Human Resource Management (HRM)
product mix
levels of brand loyalty
advertising approach
20. A large number of identical products are assembled using a continuous - efficient procedure
Prime Rate
Mass Production
Depression
Globalization
21. Way of recording financial transactions that requires two entries for every transaction so that the accounting equation is always kept in balance
Leadership Style
double-entry bookkeeping
Franchise
social media
22. Process of building - maintaining - and using customer databases for the purpose of contacting customers and transacting business
common pricing strategies
database marketing
Public Goods
Organizational Stakeholders
23. Partnership between two or more companies to closely link their brand names together for a single product
social media
co-branding
Patent
exchange process
24. A governing plan for accomplishing goals and objectives. Explain how goals will be achieved. Define the general course and scope of activities. Serve as basis for future decisions - actions and help coordinate plans. Control performance - increase
Inflation
Policy
Regulatory (Administrative) Law
Limited Partnership
25. Charging a high price for a new product during the introductory stage and lowering the price later
Divestiture
authority
skim pricing
product
26. Arrangement in which a buyer (franchisee) purchases the right to sell the good or service of the seller (franchiser)
debit
positive reinforcement
Franchise
need
27. A leadership style where managers are less directive and involved employees in decision making
variable costs
Strategic Management
limitations of marketing research
Matrix Structures
28. The combination of 'characteristics of a product of service that bear on its ability to satisfy stated or implied needs'
Quality
European Union (EU)
Supply Chain (Value Chain)
factors that influence pricing decisions
29. The process of analyzing and adjusting the basic financial plan to correct for forecasted events that do not materialize
objectives
financial control
Centralized Organization
Autocratic Leadership style
30. Selling or supporting the sales process over the telephone
telemarketing
Short-range or operational planning
Top Manager
Quid Pro Quo Harassment
31. A Theory Y manager is most likely to ____.
Joint Venture
debit
assume that all workers are content with their work
Monopoly
32. When the seller doesn't set a firm price but allows buyers to competitively bid on the products being sold
Goal
Crisis Management
auction pricing
Matrix Structures
33. Partner who does not share in a firm's management and is liable for its debts only to the limits of said partner's investment
fringe benefit
Limited Partner
fiscal year
inside board members
34. Done in conjunction with budgeting. Develops departmental maintenance and improvement goals for the coming year.
Identity Influence
public relations approach
Short-range or operational planning
Work Specialization
35. Behavior conforming to generally accepted social norms concerning beneficial and harmful actions
debit
decline stage
demographics
Ethical Behavior
36. Hybrid of a closely held corporation and a partnership - organized and operated like a corporation but treated as a partnership for tax purposes
Whistle Blower
S Corporation
Patent
why companies learn about customers so they can stay in touch with their current needs and wants
37. Products characterized by a plain label - with no advertising and no brand name
Service Operations (Service Production)
generic products
discount pricing
Imperfect Competition
38. A sustained increase in the general level of prices
horizontal analysis
Business Cycle
Inflation
Accountability
39. A phase of the business cycle when most people who want to work are working and businesses produce goods and services in record numbers
why companies learn about customers so they can stay in touch with their current needs and wants
Prosperity
5 C's
Closely Held (or Private) Corporation
40. Organization through which member nations negotiate trading agreements and resolve disputes about trade policies and practices
limitations of marketing research
World Trade Organization (WTO)
cognitive dissonance
Extractor
41. Filling caps in the market - extending the line to include new varieties of existing products - extending the brand to new product categories - and stretching the lien to include lower or higher priced items
ways to expand a product line
word of mouth
Restructuring
Merger
42. Advertising or other display materials set up at retail locations to promote products to potential customers as they are making their purchase decisions
3 Economic Role
point-of-purchase display
accounts receivable turnover ratio
credit
43. Worker - consumer - citizen Consumers vote in favor of goods and services; Worker productivity is important for a nations advancement; Citizens join with other citizens in making some economical decision for the good of the community
grand strategies
Ethical Behavior
3 Economic Role
S Corporation
44. 12 month accounting period that begins on January 1 and ends on December 31
Corporate Strategy
Copyright
calendar year
social commerce
45. Division of a diverse market into smaller - relatively homogeneous groups with similar needs - wants - and purchase behaviors
Oligopoly
how companies learn about customer
market segmentation
Strategy
46. Lots of leeway to workers to meet goals
Substitute Product
laissez-faire Leadership style
Corporate Bond
Out-sourcing
47. Obligation employees have to their manager for the successful completion of an assigned task
retained earnings
social media approach
types of financial ratios
Accountability
48. A phase marked by a prolonged period of high unemployment - weak sales of goods and services - and business failure
brand extension
management by objectives (MBO)
Acquisition
Depression
49. Customer value added by making a product available at a convenient time
marketing mix
Unlimited Liability
capital budgeting
time utility
50. The process of comparing an organization's products or services and processes with those of another companies
inventory turnover ratio
Limited Partner
Organizing
benchmarking
Can you answer 50 questions in 15 minutes?
Let me suggest you:
Browse all subjects
Browse all tests
Most popular tests
Major Subjects
Tests & Exams
AP
CLEP
DSST
GRE
SAT
GMAT
Certifications
CISSP go to https://www.isc2.org/
PMP
ITIL
RHCE
MCTS
More...
IT Skills
Android Programming
Data Modeling
Objective C Programming
Basic Python Programming
Adobe Illustrator
More...
Business Skills
Advertising Techniques
Business Accounting Basics
Business Strategy
Human Resource Management
Marketing Basics
More...
Soft Skills
Body Language
People Skills
Public Speaking
Persuasion
Job Hunting And Resumes
More...
Vocabulary
GRE Vocab
SAT Vocab
TOEFL Essential Vocab
Basic English Words For All
Global Words You Should Know
Business English
More...
Languages
AP German Vocab
AP Latin Vocab
SAT Subject Test: French
Italian Survival
Norwegian Survival
More...
Engineering
Audio Engineering
Computer Science Engineering
Aerospace Engineering
Chemical Engineering
Structural Engineering
More...
Health Sciences
Basic Nursing Skills
Health Science Language Fundamentals
Veterinary Technology Medical Language
Cardiology
Clinical Surgery
More...
English
Grammar Fundamentals
Literary And Rhetorical Vocab
Elements Of Style Vocab
Introduction To English Major
Complete Advanced Sentences
Literature
Homonyms
More...
Math
Algebra Formulas
Basic Arithmetic: Measurements
Metric Conversions
Geometric Properties
Important Math Facts
Number Sense Vocab
Business Math
More...
Other Major Subjects
Science
Economics
History
Law
Performing-arts
Cooking
Logic & Reasoning
Trivia
Browse all subjects
Browse all tests
Most popular tests