Test your basic knowledge |

Business Fundamentals

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. Method of combining geographical data with demographic data to develop profiles of neighborhood segments






2. The processes and behaviors used by someone - such as a manager - to motivate - inspire - and influence the behaviors of others






3. The practice of paying suppliers and distributors to perform certain business processes or to provide needed materials or services






4. Discount offered by producers to wholesalers and retailers






5. Ethical or unethical behaviors by employees in the context of their jobs






6. Money paid to acquire something of permanent value in a business






7. Multiple year; compares two ratios in company's financial statements; sales - sales returns/allowance - net sales - gross marginal






8. Marketing approach in which firms first ask permission to deliver messages to an audience and then promise to restrict their communication efforts to those subject areas in which audience members have expressed interest






9. An overall corporate strategy for growth - stability - or turnaround and retrenchment - or for some combination of these






10. Being accountable or being able to justify an action






11. Statement of a firm's cash receipts and cash payments that presents information on its sources and uses of cash






12. This level of management includes department heads and district sales managers.






13. External statistical descriptors such as age - income - gender - and profession






14. Products characterized by a plain label - with no advertising and no brand name






15. Act of obtaining a desired object or services from another party by offering something of value in return






16. A phase of the business cycle when most people who want to work are working and businesses produce goods and services in record numbers






17. Small software programs that provide part of the functionality of a website






18. Costs created in the process of generating revenues






19. The quantity of a good that an average worker can produce in an hour






20. Marketing efforts to attract people and organizations to a particular geographical area






21. Manager responsible for a firm's overall performance and effectiveness






22. Process by which the world is becoming a single interdependent system






23. Gathering of media representatives at which companies announce new information; also called a press conference or press briefing






24. Takes the extractor's products or raw materials and changs the into a form that consumers can use






25. Lots of leeway to workers to meet goals






26. Management process of determining what an organization needs to do and how best to get it done






27. Codified rules of behavior enforced by society






28. Characteristic of decentralized companies with relatively few layers of management






29. Short-term credit or debt amounts that a company owes its suppliers: the company's "bills" in other words






30. Start with the cost of producing a good or a service and then add a markup to the cost of the product to produce a product






31. Certificates that offer discounts on particular items and are redeemed at the time of purchase






32. Are a more complex form of organizational design that tries to take advantage of two types of structures at the same time. - The matrix represents a combination of a functional structure and a product structure.






33. The ability to get others to accoplish tasks because of the position the leader holds






34. Payments other than wages or salaries - other benefits






35. Corporation whose stock is widely held and available for sale to the general public






36. Strategies a company can adopt in order to grow: concentration - backward and forward integration - and related and unrelated diversification






37. Amount earned from sales of goods or services and inflow from miscellaneous sources such as interest - rent - and royalties






38. Efforts a company makes to satisfy its customers to help them realize the greatest possible value from the products they are purchasing






39. Extends 3 to 5 years into the future. Begins with in-depth analysis of internal environment's strengths and weaknesses. Reviews external opportunities and threats so realistic goals can be set






40. Categorization of customers according to their relationship with products or response to product characteristics






41. A statement of what is to be accomplished that is expressed in singular - specific - and measurable terms with a target date






42. Markets focus on increasing the product's market share






43. Accounting procedure for systematically spreading the cost of a tangible asset over its estimated useful life






44. Method of calculating the minimum volume of sales needed at a given price to cover all costs






45. Independent and well informed buyers and sellers of the exact same product (farmers markets)






46. Media: tv - radio - internet - print; audience: broad - intensity: passive - purpose: inform - persuade






47. One seller of a product - denies people competition and is against the law (They can typically raise prices)






48. A focus on developing and maintaining long-term relationships with customers - suppliers - and distribution partners for mutual benefit






49. Help identify and distinguish the product - provide information about the product such as ingredients - shelf life - operating procedures - and UPC codes which are used for scanning sales information and monitoring inventory and pricing






50. All costs of operation that are not included under cost of goods sold