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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. The process of analyzing and adjusting the basic financial plan to correct for forecasted events that do not materialize
assets
financial management
financial control
place utility
2. Legal principal holding owners responsible for paying off all debts of a business
Unlimited Liability
risks of product-line extensions
penetration pricing
Deregulation
3. Operating expenses - such as office and administrative expenses - not directly associated with creating or marketing a good or a service
levels of brand loyalty
customer buying behavior
general expenses
marketing strategy
4. Marketers focus on stimulating demand for the new product
Sexual Harassment
ways to expand a product line
introductory stage
European Union (EU)
5. External statistical descriptors such as age - income - gender - and profession
Out-sourcing
demographics
co-branding
Unlimited Liability
6. A statement of what is to be accomplished that is expressed in singular - specific - and measurable terms with a target date
objectives
function of labels
online display advertising
integrated marketing communications
7. Illegal practice of using special knowledge about a firm for profit or gain
earnings per share
unity of command
Ethical Behavior
Insider Trading
8. Overall plan for marketing a product: includes the identification of target market segments - a positioning strategy - and a marketing mix
stealth marketing
marketing strategy
Common Law
Convenience Good/Convenience Service
9. Acquiring funds by selling shares of a company's stock
Three reasons nations trade
equity financing
direct marketing approach
Nepotism
10. Broad set of organizational plans for implementing the decisions made for achieving organizational goals
Strategy
Labor Productivity
Market
news conference
11. The company founder is no longer solely responsible for all decision making during the ____.
middle management
permission-based marketing
Identity Influence
growth through direction state
12. Characteristic of centralized companies with multiple layers of management
form utility
Tall Organizational Structure
Organizational Stakeholders
rebates
13. A series of related products offered by a firm
market share
maturity stage
General Partnership
product line
14. A form of collusion - agree to charge the same prices - usually higher than the price set by competition
Price Fixing
price elasticity
Labor Union
fixed costs
15. Short-term credit or debt amounts that a company owes its suppliers: the company's "bills" in other words
accounts payable
penetration pricing
forecasting
return on sales
16. Skills in defining problems and selecting the best courses of action
Decision-Making Skills
budget
Nepotism
retained earnings
17. A period during which aggregate output - as measured by GDP - declines
consumer market
Recession
discount pricing
introductory stage
18. 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
SWOT analysis
equity financing
integrated marketing communications
Hostile Work Environment
19. Measure of a firm's ability to carry long-term debt - calculated by divided total liabilities by total assets
debt-to-total-assets ratio
Venture Capital Company
quick ratio
specialty advertising
20. Examining your current marketing situation - assessing your opportunities and setting your objectives - and developing your market strategy
Chief Executive Officer (CEO)
Goods Operations (Goods Production)
steps in the strategic marketing planning process
bundling
21. Protects art and literary work - give authors exclusive right to publish - sell and reproduce their work
Long-range or strategic planning
theory x
Three reasons nations trade
Copyright
22. Method of combining geographical data with demographic data to develop profiles of neighborhood segments
strategic marketing planning
product mix
financial management
geodemographics
23. 12 month accounting period that begins on January 1 and ends on December 31
it produces the greatest amount of good for the greatest number
Perfect competition
market
calendar year
24. Location
unity of command
geographics
permission-based marketing
European Union (EU)
25. Media: mail - telephone - internet - audience: target potential buyers - intensity: passive - purpose: persuade
geographics
Stockholder (or Shareholder)
media
direct marketing approach
26. Unwelcome sexual advances in the workplace
primary factors of market segmentation
Sexual Harassment
Limited Liability
Services
27. Organization for economic - social - and security cooperation among European nations
responsibilities of a financial manager
promotion
European Union (EU)
institutional advertising
28. Products characterized by a plain label - with no advertising and no brand name
Contingent Worker
marketing research
generic products
loss-leader pricing
29. ____ 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
marketing concept
Wholesaler
Organizational Chart
30. Arises when group members recognize that the leader has special expertise in the area
Expert Influence
quick ratio
positioning
Accountability
31. Difference between a person's actual state and his or her ideal state; provides the basic motivation to make a purchase
online display advertising
need
cost based pricing
brand loyalty
32. Use a brand name on a variety of related products
Management Information System (MIS)
profitability ratios
utility
family branding
33. A formal pledge obligating the issuer (the company) to pay interest periodically and repay the principal at maturity
return on investment
Corporate Bond
S Corporation
Strategic Alliance
34. 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.
Span of Control
Demand
Imperfect Competition
responsibility
35. Sales promotion aimed at final consumers
Outsourcing
Supply Chain (Value Chain)
consumer promotion
accounts payable
36. 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
responsibilities of a financial manager
geodemographics
types of financial ratios
line organization
37. Cash and items that can be turned into cash within one year
vertical analysis
growth stage
Corporation
current assets
38. Introductory stage - growth stage - maturity stage - decline stage
Monopolistic competition
Restructuring
stages in the life cycle of a product
Middle Manager
39. Advertising designed to encourage customers to try new products or to switch brands
persuasive advertising
Service Operations (Service Production)
break-even point equation
opportunity cost
40. Media: person to person - telephone - web; audience: small groups; intensity: high; purpose: inform - persuade
Crisis Management
Strategic Alliance
personal sales approach
trade allowance
41. Organization in which most decision-making authority is held by upper-level management
brand mark
Closely Held (or Private) Corporation
penetration pricing
Centralized Organization
42. The portion of shareholders' equity earned by the company but not distributed to its owners in the form of dividends
Operations (Production) Management
retained earnings
Swot Analysis
methods of finance for an expanding business
43. Owner of shares of stock in a corporation
market segmentation
Board of Directors
Stockholder (or Shareholder)
accounts receivable turnover ratio
44. Choosing one alternative from among several options
Decision Making
geographics
Organizing
Recession
45. Partner who does not share in a firm's management and is liable for its debts only to the limits of said partner's investment
World Trade Organization (WTO)
Limited Partner
brand extension
debt-to-equity ratio
46. Discount offered by producers to wholesalers and retailers
Sole Proprietership
test marketing
trade allowance
brand equity
47. Assets = liabilities + owner's equity
accounting equation
media
Unlimited Liability
Management Information System (MIS)
48. Online ads that are linked to search engine results or website content
marketing concept
growth through direction state
Market
search advertising
49. In bookkeeping - an increase in assets
break-even analysis
stealth marketing
credit
Corporate Governance
50. Manager responsible for supervising the work of employees
Organizational Structure
Out-sourcing
First-Line Manager
Strategic Management