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. Exchange of value between parties






2. 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






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






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






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






6. Organization in which a great deal of decision-making authority is delegated to levels of management at points below the top






7. Represents how many employees the manager is responsible for in the organization - Narrow spans of control allow managers to be much more hands-on with employees.






8. Using promotion - product - distribution - and price to differentiate a good or service from those of competitors in the mind of the prospective buyer






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






10. Organization in which most decision-making authority is held by upper-level management






11. 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






12. 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






13. Introductory stage - growth stage - maturity stage - decline stage






14. 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






15. Law created by consistitution(s) or by federal - state - or local legislative acts






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






17. Acquiring funds through borrowing






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






19. Sales-promotion efforts aimed at inducing distributors or retails to push a producer's products






20. Cash and items that can be turned into cash within one year






21. Arises when group members recognize that the leader has special expertise in the area






22. Total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located






23. Strategu for determining a firm's overall attitude toward growth and the way it will manage its business or product lines






24. Informal communication between customers and potential customers






25. 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






26. The four key elements of marketing strategy: product - price - distribution - and promotion






27. 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






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






29. Applying a successful brand name to a new product category






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






31. Demographics - psychographics - and geographics






32. Expensive - rarely purchased good or service






33. An overall corporate strategy for growth - stability - or turnaround and retrenchment - or for some combination of these






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






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






36. Market or industry characterized by numerous buyers and relatively numerous sellers trying to differentiate their products from those of competitors






37. Form - time - place - possession






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






39. Objective that a business hopes and plans to achieve






40. Statement of a firm's cash receipts and cash payments that presents information on its sources and uses of cash






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






42. Top management team of a corporation






43. Portion of a brand that cannot be expressed verbally






44. Sales promotion aimed at final consumers






45. Offering a temporary reduction in price






46. Results from the leader's ability to give or withhold rewards






47. Nonsales communication that businesses have with their various audiences






48. Measure of a firm's ability to carry long-term debt - calculated by divided total liabilities by total assets






49. A leadership style where managers are less directive and involved employees in decision making






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