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. Reporting relationships within a company






2. Portion of a brand that can be expressed orally - including letters - words - or numbers






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






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






5. Assets retained for long-term use - such as land - buildings - machinery - and equipment; also referred to as property - plant - and equipment






6. Efforts a company makes to satisfy its customers to help them realize the greatest possible value from the products they are purchasing






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






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






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






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






11. Inexpensive good or service purchased and consumed rapidly and regularly






12. The processes and behaviors used by someone - such as a manager - to motivate - inspire - and influence the behaviors of others






13. Strategy - at the business-unit or product-line level - focusing on improving a firm's competitive position






14. Accounting method in which revenue is recorded when payment is received and expense is recorded when cash is paid






15. Strategic alliance in which the collaboration involves joint ownership of the new venture






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






17. Organization for economic - social - and security cooperation among European nations






18. Authority granted to committees or teams involved in a firm's daily operations






19. In a ____ authority originates at the top and moves downward in a line.






20. Partner who actively manages a firm and who has unlimited liability for its debts






21. Mechanism for exchange between buyers and sellers of a particular good or service






22. Goal set for an extended time - typically 5 years or more in the future






23. Media: tv - radio - internet - print; audience: broad - intensity: passive - purpose: inform - persuade






24. Media: mail - telephone - internet - audience: target potential buyers - intensity: passive - purpose: persuade






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






26. Behavior exhibited by consumers as they consider - select - and purchase goods and services






27. Making a product available at a convenient time






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






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






30. Filling caps in the market - extending the line to include new varieties of existing products - extending the brand to new product categories - and stretching the lien to include lower or higher priced items






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






32. Codified rules of behavior enforced by society






33. Continually adjusting prices to reflect changes in supply and demand






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






35. Partnership between two or more companies to closely link their brand names together for a single product






36. 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






37. Very few large firms dominate the market such as coke - pepsi - GM - McDonalds






38. Brands owned by the manufacturers and distributed nationally






39. Advertising or other display materials set up at retail locations to promote products to potential customers as they are making their purchase decisions






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






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






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






43. Classification of customers on the basis of their psychological makeup - interests - and lifestyles






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






45. Act of obtaining a desired object or services from another party by offering something of value in return






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






47. Obligations that must be next within a year






48. Brief statement or video program released to the press announcing new products - management changes - sales performance - and other potential news items






49. 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






50. Top management team of a corporation