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Business Fundamentals
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Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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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. Advertising that appears on various items such as coffee mugs - pens - and calendars - designed to help keep a company's name in front of customers
specialty advertising
Swot Analysis
fixed assets
Span of Control
2. Vying among businesses for the same resources or customers
Leadership Style
Divestiture
Competition
direct marketing approach
3. Personal selling - advertising - direct marketing - sales promotion - public relations - social media - postsales communications
commercialization
forecasting
loss-leader pricing
categories of customer communication
4. Specification of the jobs to be done within an organization and the ways in which they relate to one another
Merger
Organizational Structure
Controlling
loss-leader
5. A forecast of financial requirements and the financing sources to be used
Business Plan
Socialism
consumer market
financial plan
6. Poor predictor of what will excite consumers in the future; sometimes ineffective because it is conducted in an artificial setting
Labor Relations
Three reasons nations trade
limitations of marketing research
Private enterprise
7. Markets focus on increasing the product's market share
capital budgeting
growth stage
Whistle Blower
capital investments
8. 12 month accounting period that begins on January 1 and ends on December 31
market segmentation
World Trade Organization (WTO)
form utility
calendar year
9. Extends 3 to 5 years into the future. Begins with in-depth analysis of internal environment's strengths and weaknesses. Reviews external opportunities and threats so realistic goals can be set
stages in the life cycle of a product
Long-range or strategic planning
product advertising
Recession
10. Flow of information - materials - and services that starts with raw-materials suppliers and continues adding value through other stages in the network of firms until the product reaches that end customer
Supply Chain (Value Chain)
generic products
Matrix Structures
Business (or Competitive) Strategy
11. Measure how well a company is managing assets; two types inventory turnover and accounts receivable turnover
Outcome-based ethics
Import
budget
activity ratios
12. The process of changing an organization's structure - Has a small negative effect on task performance. - Has a more significant negative effect on organizational commitment.
Short-Term Goal
Restructuring
Venture Capital Company
negative reinforcement
13. A focus on developing and maintaining long-term relationships with customers - suppliers - and distribution partners for mutual benefit
need
Philosophy
relationship marketing
Oligopoly
14. Assets retained for long-term use - such as land - buildings - machinery - and equipment; also referred to as property - plant - and equipment
Board of Directors
Leading
double-entry bookkeeping
fixed assets
15. Advertising or other display materials set up at retail locations to promote products to potential customers as they are making their purchase decisions
brand mark
institutional advertising
point-of-purchase display
Management
16. Large-scale production and distribution of a product
Demand
5 C's
permission-based marketing
commercialization
17. Brands that have been given legal protection so that their owners have exclusive rights to their use
trademarks
Oligopoly
Privatization
ratio analysis
18. Unwelcome sexual advances in the workplace
Gross Domestic Product (GDP)
Procedure
Chain of Command
Sexual Harassment
19. All costs of operation that are not included under cost of goods sold
operating expenses
Philosophy
Collusion
long-term liabilities
20. A period where demand begins to decrease - businesses lower production of goods and services - unemployment begins to rise - and GDP growth slows for two or more quarters
Recession
Import
Marketing
Labor Union
21. The value that a company has built up in a brand
loss-leader
brand equity
categories of customer communication
ratio analysis
22. Strategy of coordinating and integrating all communications and promotional efforts with customers to ensure greater efficiency and effectiveness
Middle Manager
activity ratios
Business (or Competitive) Strategy
integrated marketing communications
23. The way you live as measure by the kinds and quality of goods and services you can afford
Convenience Good/Convenience Service
Standard of Living
owner's equity
Top Manager
24. Assets = liabilities + owner's equity
Stockholder (or Shareholder)
search advertising
assets equation
marketing concept
25. From of sexual harassment deriving from off-color jokes - lewd comments - and so forth
Stockholder (or Shareholder)
Hostile Work Environment
cash basis
risks of product-line extensions
26. Location
Monopoly
how companies learn about customer
geographics
management by objectives (MBO)
27. Offering several products for a single price that is presumably lower than the total of the products' individual prices
corporate strategies
Flat Organizational Structure
bundling
Supply Chain (Value Chain)
28. Business costs that increase with the number of units produced
variable costs
form utility
co-branding
limitations of marketing research
29. Demographics - psychographics - and geographics
primary factors of market segmentation
Centralized Organization
responsibility
Environmental Analysis
30. Building a specific and unique product to meet the needs of one consumer
skim pricing
Management
Custom Manufacturing
categories of customer communication
31. Customer value added by making a product available in a convenient location
geographic segmentation
direct marketing approach
place utility
accounting equation
32. Introducing a new product at a low price in hopes of building sales volume quickly
assets
place utility
need
penetration pricing
33. A business that grows products or takes raw material from nature
Extractor
advertising approach
Small Business Administration (SBA)
Whistle Blower
34. Wide variety of persuasive techniques used by companies to communicate with their target markets and the general public
Prosperity
personal selling
promotion
Contingent Worker
35. 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
brand mark
Flat Organizational Structure
quick ratio
return on sales
36. Type of partnership consisting of limited partners and a general (or active) partner
generic products
cost of goods sold equation
marketing strategy
Limited Partnership
37. Roles of shareholders - directors - and other managers in corporate decision making and accountability
Stockholder (or Shareholder)
Corporate Governance
marketing concept
utility
38. Marketing efforts to attract people and organizations to a particular geographical area
Multinational (or Transnational) Corporation
Limited Liability
co-branding
place marketing
39. Charging a high price for a new product during the introductory stage and lowering the price later
Pure Competition
product
skim pricing
customer buying behavior
40. The processes and behaviors used by someone - such as a manager - to motivate - inspire - and influence the behaviors of others
Strategy
specialty advertising
inside board members
Leadership
41. When a task is too time consuming for a manager to handle alone - he or she may ____.
delegate the task
Wholesaler
Corporate Strategy
World Trade Organization (WTO)
42. Assets = liabilities + owner's equity
accounting equation
sales promotion approach
Specialty Good/Specialty Service
function of labels
43. Owner of shares of stock in a corporation
responsibilities of a financial manager
European Union (EU)
Retrenchment
Stockholder (or Shareholder)
44. Rewarded for good performance; something the employee likes is praised
psychographics
Competition
telemarketing
positive reinforcement
45. Promotional campaigns that send information only to those people who've specifically asked to receive it
break-even point
permission marketing
promotional strategy
Goods Operations (Goods Production)
46. Management process of monotoring an organization's performance to ensure that it is meeting its goals
Business (or Competitive) Strategy
demographics
Controlling
positive reinforcement
47. Management theory incorporating Japanese emphasis on collective decision making and concern for employees with American emphasis on individual responsibility is ____.
capital investments
downsizing
Theory Z
return on investment
48. The creation and sharing of product-related information among customers and potential customers
utility
Extension
social commerce
demographics
49. Partnership between two or more companies to closely link their brand names together for a single product
Affirmative Action
co-branding
Chain of Command
stealth marketing
50. Applying a successful brand name to a new product category
brand extension
Middle Manager
accounts receivable turnover ratio
organizational market
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