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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. Acquiring funds through borrowing






2. Selling method in which the price is set by customers bidding against each other






3. Brands that have been given legal protection so that their owners have exclusive rights to their use






4. An increase in liabilities






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






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






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






8. 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






9. Single year; A method of financial statement analysis in which each entry for each of the three major categories of accounts (assets - liabilities and equities) in a balance sheet is represented as a proportion of the total account; income statement






10. Process by which the world is becoming a single interdependent system






11. Beliefs about what is right or wrong and good or bad in actions that affect others






12. Management process of monotoring an organization's performance to ensure that it is meeting its goals






13. The purchase of one company by another






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






15. Measure of the time a company takes to turn its inventory into sales - calculated by divided cost of goods sold by the average value of inventory for a period






16. A forecast of financial requirements and the financing sources to be used






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






18. Advertising sent directly to potential customers - usually through the mail






19. Method of calculating the minimum volume of sales needed at a given price to cover all costs






20. Promotional campaigns that send information only to those people who've specifically asked to receive it






21. Legal principal holding owners responsible for paying off all debts of a business






22. Planning and control tool that reflects expected revenues - operating expenses - and cash receipts and outlays






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






24. Costs created in the process of generating revenues






25. Somethings needed by a community and provided by its government






26. Hybrid of a publicly held corporation and a partnership in which owners are taxed as partners but enjoy the benefits of limited liability






27. Profit earned or loss incurred by a firm - determined by subtracting expenses from revenues; also called the bottom line






28. Categorization of customers according to their relationship with products or response to product characteristics






29. Strategies that deal with the most important aspects of the company's operations and provide overall direction for the company are known as ____.






30. 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






31. This law guards against false advertising.






32. Owner of shares of stock in a corporation






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






34. Document in which an entrepreneur summarizes his or her business strategy for a proposed new venture and how that strategy will be implemented






35. Favoritism shown to relatives or close friends by those in power (as by giving them jobs)






36. Good or service used as the basis of commerce






37. Occurs when widespread price increases occur throughout an economic system






38. Economy in which individuals control production and allocation decisions through supply and demand






39. Gathering of media representatives at which companies announce new information; also called a press conference or press briefing






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






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






42. Non-fluctuating rate that banks use to offer short-term loans of high dollar amounts made up of several interest rates






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






44. Making decisions without consulting anyone






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






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






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






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






49. Intermediary who sells products directly to consumers






50. Compensation other than wages and salaries







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Can you answer 50 questions in 15 minutes?


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