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. Characteristic of centralized companies with multiple layers of management






2. A firm's portion of the total sales in a market






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






4. Building a specific and unique product to meet the needs of one consumer






5. Flow of information - materials - and services that starts with raw-materials suppliers and continues adding value through other stages in the network of firms until the product reaches that end customer






6. Larger visual and multimedia ads that appear on websites






7. Internal descriptors such as attitudes - interests - values - behaviors - and habits






8. Power to make the decisions necessary to complete a task






9. Power of a good or services to satisfy a human need






10. Business costs that increase with the number of units produced






11. Small groups in the same work area that have scheduled meetings about problems and how to fix them






12. Product made or grown abroad but sold domestically






13. Hybrid of a closely held corporation and a partnership - organized and operated like a corporation but treated as a partnership for tax purposes






14. Advertising designed to encourage customers to try new products or to switch brands






15. Private funds - partners/shareholders - bank loans - asset leasing and hire purchase - venture capital/business angels - merger capital - retained profits






16. The process of comparing an organization's products or services and processes with those of another companies






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






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






19. Large-scale production and distribution of a product






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






21. Use a brand name on a variety of related products






22. 12 month accounting period that begins on January 1 and ends on December 31






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






24. The collection and analysis of information for making marketing decisions






25. Amounts that are currently due to a company






26. Governing body of a corporation that reports to its shareholders and delegates power to run its day-to-day operations while remaining responsible for sustaining its assets






27. Idea generation - idea screening - business analysis - prototype development - test marketing - commercialization






28. Personal selling - advertising - direct marketing - sales promotion - public relations - social media - postsales communications






29. Free or bargain-priced items offered to encourage customers to buy a product






30. Being accountable or being able to justify an action






31. Goal set for the very near future






32. Accounting method in which revenue is recorded when a sale is made and expense is recorded when it is incurred






33. The process in which managers and their employees jointly set objectives for the employees - periodically evaluate performance - and reward according to the results






34. A group of customer who need or want a particular product and have the money to buy it






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






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






37. A ____ is an agreement between two parties to carry out a transaction - such as the sale of goods from a seller to buyer.






38. From of sexual harassment deriving from off-color jokes - lewd comments - and so forth






39. 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






40. Managers and workers cooperating as a team






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






42. Process for evaluating proposed investments in select projects that provide the best long-term financial return






43. Computer system that supports managers by providing information- reports - schedules - plans and budgets- that can be used for making decisions






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






45. Behavior conforming to generally accepted social norms concerning beneficial and harmful actions






46. Group of individuals working together to achieve shared job-related goals - such as higher pay - shorter working hours - more job security - greater benefits - or better working conditions






47. An increase in liabilities






48. Changes the form of material so they can be consumed or used to manufacture other products






49. Body of decisions handed down by courts ruling on individual cases






50. Motivator and hygiene factors need to be met to prevent dissatisfaction

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Can you answer 50 questions in 15 minutes?



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