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. A forecast of financial requirements and the financing sources to be used






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






3. Statement of beliefs and values that direct behavior - clear concise manner and included in staff handbooks and annual reports.






4. Business costs that remain constant regardless of the number of units produced






5. Strategies developed and implemented by managers in marketing - operations - human resources - finance - and other departments






6. Study of statistical characteristics of a population






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






8. Communications channels - such as newspapers - radio - and television






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






10. Goal set for the very near future






11. Management process of determining how to best arrange an organization's resources and activities into a coherent structure






12. Vying among businesses for the same resources or customers






13. Form of sexual harassment in which sexual favors are requested in return for job-related benefits






14. The delivery of marketing messages to people who are not aware that they are being marketing to; these messages can be delivered by either acquaintances or strangers - depending on the technique






15. Is a drawing that represents every job in the organization and the formal reporting relationships between those jobs.






16. The way a manager teats and directs employees






17. Obligation employees have to their manager for the successful completion of an assigned task






18. Business with two or more owners who share in both the operation of the firm and the financial responsibility for its debts






19. The act of transferring net revenue and expense account balances to retained earnings for the period






20. Organization's methods for dealing with emergencies






21. Strategies that deal with the most important aspects of the company's operations and provide overall direction for the company are known as ____.






22. Diagram depicting a company's structure and showing employees where they fit into its operations






23. Sales volume at a given price that will cover all of a company's costs






24. Occurs when widespread price increases occur throughout an economic system






25. Marketers focus on stimulating demand for the new product






26. Particular blend of personal selling - advertising - direct marketing - sales promotion - and public relations that a company uses to reach potential customers






27. The phase in which unemployment begins to decrease. demand for goods and services increase - and GDP begins to rise






28. Agreement to gradually eliminate tariffs and other trade barriers among the United States - Canada - and Mexico






29. Expensive - rarely purchased good or service






30. 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






31. Customer value added by making a product available at a convenient time






32. When a task is too time consuming for a manager to handle alone - he or she may ____.






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






34. Total value of all goods and services produced within a given period by a national economy through domestic factors of production






35. 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






36. Process of building - maintaining - and using customer databases for the purpose of contacting customers and transacting business






37. Individuals or households that buy goods and services for personal use






38. Making a product available at a convenient time






39. Media: mail - telephone - internet - audience: target potential buyers - intensity: passive - purpose: persuade






40. The creation and sharing of product-related information among customers and potential customers






41. Categorization of customers according to their geographical location






42. 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






43. Introducing a new product at a low price in hopes of building sales volume quickly






44. Nonsales communication that businesses have with their various audiences






45. A formal pledge obligating the issuer (the company) to pay interest periodically and repay the principal at maturity






46. Exchange of value between parties






47. Direct communication other than personal sales contacts designed to effect a measurable response






48. Making decisions without consulting anyone






49. Physical products purchased by consumers for personal use






50. Advertising intended to remind existing customers of a product's availability and benefits







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