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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. Measure of time a company takes to turn its accounts receivable into cash - calculated by divided sales by the average value of accounts receivable for a period






2. profitability - liquidity - activities - and leverage/debt






3. Manufacturing and selling costs - competition - the needs of wholesalers and retailers who distribute the product to the final customer - the firm's marketing objectives - government regulations - quality perceptions - and customer demand






4. Stocks - bonds - and other investments that can be turned into cash quickly






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






6. A series of related products offered by a firm






7. The union of two corporations to form a new corporation






8. The benefit lost from the next best alternative; what you have to give up - to get what you want or need the most






9. Product that is dissimilar from those of competitors but than can fulfill the same need






10. Measures of the extent to which a business is financed by debt as opposed to invested capital - calculated by dividing the company's total liabilities by owners' equity






11. Manager responsible for supervising the work of employees






12. Ratios that measure the overall financial performance of a firm- include return on sales - return on investment - and earnings per share






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






14. Compensation other than wages and salaries






15. Intermediary who sells products to other businesses for resale to final consumers






16. 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






17. Leaders need vision that is realistic and feasible. The strategic vision should be clear - cohesive - consistent and flexible. Includes analysis of the agency's internal and external environments (strengths - weaknesses - opportunities - and thr






18. Process of converting government enterprises into privately owned companies






19. 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






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






21. 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






22. A name - term - sign - symbol - design or combination of those used to identify the products of a firm and competing products






23. Specification of the jobs to be done within an organization and the ways in which they relate to one another






24. The action of ensuring that operations produce products that meet specific quality standards






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






26. Managers who develop and implement a complete strategy and marketing program for specific products or brands






27. Physical products purchased by companies to produce other products






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






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






30. Measure of a firm's short-term liquidity - calculated by divided current assets by current liabilities






31. Objective that a business hopes and plans to achieve






32. Unwelcome sexual advances in the workplace






33. 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






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






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






36. Alternative plans to be implemented if uncontrollable event occur






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






38. Pricing selling one product at a loss as a way to entice customers to consider other products






39. Charging a high price for a new product during the introductory stage and lowering the price later






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






41. Amount earned from sales of goods or services and inflow from miscellaneous sources such as interest - rent - and royalties






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






43. Corporation whose stock is held by only a few people and is not available for sale to the general public






44. Activities needed to move a product efficiently from manufacturer to consumer






45. 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






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






47. 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






48. 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






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






50. Advertising that tries to sell specific goods or services - generally by describing features - benefits - and occasionally - price






Can you answer 50 questions in 15 minutes?



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