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. profitability - liquidity - activities - and leverage/debt






2. Product - price - distribution - customer communication

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3. Employee hired on something other than a full-time basis to supplement an organization's permanent workforce






4. Top management team of a corporation






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






6. Employee who detects and tries to put an end to a company's unethical - illegal - or socially irresponsible actions by publicizing them






7. Marketers try to extend the life of the product by highlighting improvements or by repackaging the product in different sizes






8. Brief statement or video program released to the press announcing new products - management changes - sales performance - and other potential news items






9. Acquiring funds by selling shares of a company's stock






10. 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






11. Using relative information to predict how many jobs will be needed






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






13. Utilitarianism: outcome oriented - focuses on the consequences of an action - not on the nature of the action itself or on any set of preestablished moral values or religious beliefs.






14. Specific customer groups or segments to whom a company wants to sell a particular product






15. Illegal practice of using special knowledge about a firm for profit or gain






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






17. A measure of the sensitivity of demand to changes in price






18. Wide range of events and activities (including coupons - rebates - contests - in-store demonstrations - free samples - trade shows - and point-of-purchase displays) designed to stimulate interest in a product






19. Objective that a business hopes and plans to achieve






20. A leadership style where the manager is directive and controlling






21. Brands owned by the manufacturers and distributed nationally






22. Elimination of rules that restrict business activity






23. Product made or grown abroad but sold domestically






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






25. Gross domestic product (GDP) adjusted to account for changes in currency values and price changes






26. Form - time - place - possession






27. Managers and workers cooperating as a team






28. The amount of money charged for a product or service






29. Enactment of federal regulations to restore public trust in accounting practices by imposing new requirements on financial activities in publicly traded corporations






30. Examining your current marketing situation - assessing your opportunities and setting your objectives - and developing your market strategy






31. Brands that carry the label of a retailer or a wholesaler rather than a manufacturer






32. Identification and analysis of organizational strengths and weaknesses and environmental opportunities and threats as part of strategy formulation






33. Division of a diverse market into smaller - relatively homogeneous groups with similar needs - wants - and purchase behaviors






34. Process through which a manager allocates work to subordinates






35. A large number of identical products are assembled using a continuous - efficient procedure






36. 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






37. Obtain goods they cannot produce - reflect comparative advantage - and create jobs






38. Poor predictor of what will excite consumers in the future; sometimes ineffective because it is conducted in an artificial setting






39. ____ 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






40. Process of subdividing a market into homogeneous groups to identify potential customers and to devise marketing approaches geared to their needs and interests






41. Court-granted permission for a company to not pay some or all debts






42. Systematic examination of a company's accounting system to determine whether its financial reports reliably represent its operations






43. Legal principal holding investors liable for a firm's debts only to the limits of their personal investments in it






44. Media: networks - audience: potential buyers - intensity: passive/active - purpose: inform - persuade - remind






45. Senior company managers who serve on the company's board of directors are known as ____.






46. Amounts that are currently due to a company






47. Overall plan for marketing a product: includes the identification of target market segments - a positioning strategy - and a marketing mix






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






49. Organization's methods for dealing with emergencies






50. 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.