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. Four basic stage through which a product progresses: introduction - growth - maturity - and decline
product life cycle
current ratio
Quid Pro Quo Harassment
Ethics
2. Is the way in which tasks in an organization are divided into separate jobs. - Also known as division of labor - Assembly line worker.
profitability ratios
Standard of Living
exchange process
Work Specialization
3. Court-granted permission for a company to not pay some or all debts
Regulatory (Administrative) Law
trademarks
Bankruptcy
Business Cycle
4. Developing and implementing a firm's financial plan - monitoring cash flow - decided how to create or use excess funds - budgeting for current and future expenditures - recommending specific investments - raising capital to finance the enterpris
price elasticity
specialty advertising
trade allowance
responsibilities of a financial manager
5. The process in which managers and their employees jointly set objectives for the employees - periodically evaluate performance - and reward according to the results
equity financing
management by objectives (MBO)
Acquisition
Unemployment
6. Organization's methods for dealing with emergencies
reminder advertising
Crisis Management
Custom Manufacturing
commercialization
7. Management process of monotoring an organization's performance to ensure that it is meeting its goals
Substitute Product
Bankruptcy
function of labels
Controlling
8. Degree to which customers continue to buy from a particular retailer or buy the products of a particular manufacturer or service provider
variable costs
customer loyalty
Strategy
market
9. Good or service used as the basis of commerce
close the books
product
types of utility
Sexual Harassment
10. Something produced by the intellect or mind that has commercial value
cost of goods sold equation
personal selling
Organizing
Intellectual Property
11. A detailed series of related steps or tasks written to implement a policy is called a ____.
Recession
place marketing
Procedure
inside board members
12. One seller of a product - denies people competition and is against the law (They can typically raise prices)
Monopoly
function of packaging
advertising
Matrix Structures
13. Organization through which member nations negotiate trading agreements and resolve disputes about trade policies and practices
World Trade Organization (WTO)
levels of brand loyalty
persuasive advertising
coupons
14. ____ help focus attention on what is important and are broader statements than objectives. More quantitative the ____ - the more likely its achievement is to receive attention and less likely it is to be distorted. The end or outcome to be accomplis
utility
Pure Competition
brand loyalty
Goals
15. Selling one product at a loss as a way to entice customers to consider other products
loss-leader pricing
Gross Domestic Product (GDP)
product advertising
Market
16. The various appliances and devices for creating - storing - exchanging - and using information in diverse modes - including visual images - voice - multimedia - and business data
push strategy
Information Technology (IT)
liabilities
Sole Proprietership
17. Is a drawing that represents every job in the organization and the formal reporting relationships between those jobs.
Leadership Style
demographics
return on equity ratio
Organizational Chart
18. Amount earned from sales of goods or services and inflow from miscellaneous sources such as interest - rent - and royalties
revenues
Long-Term Goal
functional strategies
opportunity cost
19. Selling method in which the price is set by customers bidding against each other
function of labels
how companies learn about customer
debt-to-total-assets ratio
auction
20. Product that is dissimilar from those of competitors but than can fulfill the same need
Substitute Product
Monopolistic Competition
Depression
place utility
21. A document - generally issued by a state government - giving permission to start a corporation
Marketer
Certificate of Incorporation
ways to expand a product line
Unlimited Liability
22. Media: person to person - telephone - web; audience: small groups; intensity: high; purpose: inform - persuade
benchmarking
trademarks
personal sales approach
Leadership
23. Deliver quality products - and provide effective customer service; keeps customers satisfied and helps retain long-term loyalty
why companies learn about customers so they can stay in touch with their current needs and wants
Labor Productivity
corporate strategies
psychographics
24. The company founder is no longer solely responsible for all decision making during the ____.
Goals
price based pricing
organizational market
growth through direction state
25. Ratios that measure a firm's reliance on debt financing of its operations
earnings per share
debt ratios
customer loyalty
Flat Organizational Structure
26. Body of decisions handed down by courts ruling on individual cases
permission-based marketing
specialty advertising
cost of goods sold equation
Common Law
27. A name - term - sign - symbol - design or combination of those used to identify the products of a firm and competing products
function of packaging
First-Line Manager
brand
Gross Domestic Product (GDP)
28. Agreement to produce and market another company's product in exchange for a royalty or fee
Top Manager
product life cycle
Prosperity
license
29. Claims against a firm's assets by creditors - such as banks and suppliers
Depression
Expert Influence
need
liabilities
30. 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
Deregulation
Inflation
gross profit
function of labels
31. Objective that a business hopes and plans to achieve
Gross Domestic Product (GDP)
Procedure
it produces the greatest amount of good for the greatest number
Goal
32. A Theory Y manager is most likely to ____.
assume that all workers are content with their work
long-term liabilities
schematic of marketing process
trade allowance
33. Government agency charged with assisting small businesses - a govt agency that helps small business owners develop business plan and obtain financing and other support for their companies
Inflation
Regulatory (Administrative) Law
Small Business Administration (SBA)
Wholesaler
34. Media: mail - telephone - internet - audience: target potential buyers - intensity: passive - purpose: persuade
direct marketing approach
communication mix
corporate strategies
specialty advertising
35. Unwelcome sexual advances in the workplace
behavioral segmentation
Committee and Team Authority
Service Operations (Service Production)
Sexual Harassment
36. Refers to policies that take factors including 'race - color - religion - gender - sexual orientation or national origin' into consideration in order to benefit an underrepresented group - usually as a means to counter the effects of a history o
media
authority
Affirmative Action
growth through direction state
37. Managers who develop and implement a complete strategy and marketing program for specific products or brands
brand managers
Goal
Imperfect Competition
permission-based marketing
38. Offering a temporary reduction in price
discount pricing
break-even point equation
Organizing
trade allowance
39. Market or industry in which there is only one producer that can therefore set the prices on all of its products
Nepotism
Monopoly
inside board members
Limited Partnership
40. Changes the form of material so they can be consumed or used to manufacture other products
cause-related marketing
Management
Processing
debit
41. The practice of paying suppliers and distributors to perform certain business processes or to provide needed materials or services
Goal
Outsourcing
relationship marketing
responsibility
42. Measure of a firm's short-term liquidity - calculated by divided current assets by current liabilities
Outcome-based ethics
current ratio
Goods Operations (Goods Production)
why companies learn about customers so they can stay in touch with their current needs and wants
43. The action of ensuring that operations produce products that meet specific quality standards
permission marketing
Patent
Goal
Quality Control
44. Process of subdividing a market into homogeneous groups to identify potential customers and to devise marketing approaches geared to their needs and interests
dynamic pricing
market segmentation
brand mark
Controlling
45. Results from the leader's ability to give or withhold rewards
forecasting
how companies learn about customer
Retrenchment
Reward Influence
46. Current assets minus current liabilities
Inflation
working capital
direct marketing approach
types of financial ratios
47. Identification and marketing of a social issues - cause - or idea to selected target markets
capital budgeting
cause-related marketing
market share
unity of command
48. Product development stage in which a product is sold on a limited basis - a trial introduction
methods of finance for an expanding business
financial plan
Flat Organizational Structure
test marketing
49. Owner of shares of stock in a corporation
Accountability
place utility
Mass Production
Stockholder (or Shareholder)
50. A ____ is an agreement between two parties to carry out a transaction - such as the sale of goods from a seller to buyer.
Price Fixing
Goods Operations (Goods Production)
contract
Retailer