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. Postsales reductions in price - must be applied for by the purchaser
skim pricing
accounts receivable turnover ratio
loss-leader
rebates
2. A measure of the sensitivity of demand to changes in price
negative reinforcement
Inflation
debt ratios
price elasticity
3. Obligation employees have to their manager for the successful completion of an assigned task
Accountability
responsibilities of a financial manager
consumer market
Reward Influence
4. Where products are conveniently placed for customers
place utility
search advertising
activity ratios
financial control
5. A period where demand begins to decrease - businesses lower production of goods and services - unemployment begins to rise - and GDP growth slows for two or more quarters
marketing research
Recession
mission statement
break-even point equation
6. Strategies developed and implemented by managers in marketing - operations - human resources - finance - and other departments
Officers
Universal Product Codes
functional strategies
organization behavior modification
7. Strategu for determining a firm's overall attitude toward growth and the way it will manage its business or product lines
brand names
Corporate Strategy
Export
stages of product development
8. Small software programs that provide part of the functionality of a website
widgets
Long-range or strategic planning
Export
Organizing
9. Making decisions without consulting anyone
vertical analysis
marketing research
marketing
Autocratic Leadership style
10. Assets - liabilities = owner's equity
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
11. Measure of profitability calculated by divided net income after taxes by the average number of shares of common stock outstanding
3 Economic Role
earnings per share
public relations approach
Patent
12. In bookkeeping - an increase in assets
retained earnings
credit
Venture Capital Company
Real GDP
13. Certificates that offer discounts on particular items and are redeemed at the time of purchase
coupons
depreciation
Divestiture
calendar year
14. Break-even point = fixed costs/ (selling price - variable costs per unit)
Acquisition
liabilities
brand extension
break-even point equation
15. Business with two or more owners who share in both the operation of the firm and the financial responsibility for its debts
productivity - the success of the managers - and the morale of the other employees
benchmarking
Bankruptcy
General Partnership
16. The value that a company has built up in a brand
search advertising
theory x
brand equity
factors that influence pricing decisions
17. Products characterized by a plain label - with no advertising and no brand name
product life cycle
generic products
behavioral segmentation
inventory turnover ratio
18. Management process of determining how to best arrange an organization's resources and activities into a coherent structure
Inflation
Organizing
Universal Product Codes
European Union (EU)
19. Customer value created by converting raw materials and other inputs into finished goods and services
form utility
Goods Operations (Goods Production)
function of labels
marketing mix
20. Planned economic system in which the government owns and operates only selected major sources of production
Venture Capital Company
Extractor
Socialism
market segmentation
21. Group of small investors who invest money in companies with rapid growth potential
First-Line Manager
liquidity ratios
financial plan
Venture Capital Company
22. Sales promotion aimed at final consumers
types of utility
brand
consumer promotion
place utility
23. Measure of a firm's short-term liquidity - calculated by adding cash - marketable securities - and receivables - then divided that sum by current liabilities; also known as the acid-test ratio
stages in the life cycle of a product
marketable securities
Recovery
quick ratio
24. Brands owned by the manufacturers and distributed nationally
national brands
accounting equation
geographics
form utility
25. Product - price - distribution - customer communication
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
26. Brief statement or video program released to the press announcing new products - management changes - sales performance - and other potential news items
Marketer
permission marketing
news release
Labor Relations
27. Product made or grown domestically but sold abroad
Decentralized Organization
demographics
Sarbanes-Oxley Act of 2002 (Sarbox)
Export
28. ____ 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
Goals
brand equity
Purpose of Strategic Planning
permission marketing
29. 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
permission-based marketing
personal selling
product line
database marketing
30. Product that is dissimilar from those of competitors but than can fulfill the same need
Substitute Product
exchange process
levels of brand loyalty
balance sheet
31. Top management team of a corporation
Flat Organizational Structure
public relations approach
Recovery
Officers
32. All costs of operation that are not included under cost of goods sold
Capitalism
operating expenses
Board of Directors
Affirmative Action
33. The price of your nation's currency is in terms of another nation's currency
fixed assets
Matrix Structures
Specialty Good/Specialty Service
Exchange Rate
34. Advertising that seeks to create goodwill and to build a desired image for a company rather than to sell specific products
institutional advertising
wants
operating expenses
Specialty Good/Specialty Service
35. A type of imperfect competition such that competing producers sell products that are differentiated from one another as good but not perfect substitutes (such as from branding - quality - or location). In monopolistic competition - a firm takes th
Competition
Management Information System (MIS)
Monopolistic Competition
rebates
36. Exclusive right to manufacture - sell or use a new invention - prevents someone from stealing and profiting from your invention
Universal Product Codes
S Corporation
profitability ratios
Patent
37. Difference of revenues - costs - and profit from the planned amounts.
Variance
Labor Union
Goods Operations (Goods Production)
personal sales approach
38. Intermediary who sells products directly to consumers
Retailer
product mix
decline stage
Management
39. The combination of 'characteristics of a product of service that bear on its ability to satisfy stated or implied needs'
Strategic Management
point-of-purchase display
Span of Control
Quality
40. Stocks - bonds - and other investments that can be turned into cash quickly
marketable securities
primary factors of market segmentation
financial plan
Purpose of Strategic Planning
41. Communications channels - such as newspapers - radio - and television
Nepotism
media
Delegation
fiscal year
42. Assets = liabilities + owner's equity
assets equation
widgets
market share
depreciation
43. Diagram depicting a company's structure and showing employees where they fit into its operations
Organization Chart
theory y
time utility
mission statement
44. S- strengths W- weaknesses O- opportunities T- threats - strengths and weaknesses are internal factors of the company; opportunities and threats are external factors towards the company
accounts receivable turnover ratio
Operations (Production) Management
SWOT analysis
fringe benefit
45. Efforts a company makes to satisfy its customers to help them realize the greatest possible value from the products they are purchasing
customer service
financial control
trade promotions
elements of a company's marketing mix
46. Private funds - partners/shareholders - bank loans - asset leasing and hire purchase - venture capital/business angels - merger capital - retained profits
fixed costs
methods of finance for an expanding business
profitability ratios
Nepotism
47. Promotional approach designed to motivate wholesalers and retailers to push a producer's products to end users
push strategy
Benefits
Position Influence
Demand
48. 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
capital investments
Goods Operations (Goods Production)
Ethics
cost based pricing
49. Vying among businesses for the same resources or customers
Competition
certain disabilities and illnesses
Corporate Strategy
geographics
50. The activity - set of institutions - and process for creating - communicating - delivering - and enhancing offerings that have value for customers - clients - partners - and society at large
marketing mix
job rotation
Marketing
Mass Production