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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. The movement of an economy from one condition to another and back again






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






3. Employee who detects and tries to put an end to a company's unethical - illegal - or socially irresponsible actions by publicizing them






4. Making a product available at a convenient time






5. Occurs when two companies form one corporation






6. Amount earned from sales of goods or services and inflow from miscellaneous sources such as interest - rent - and royalties






7. Manager responsible for a firm's overall performance and effectiveness






8. Media: news release; audience: broad - intensity: passive - active; purpose: inform






9. Codified rules of behavior enforced by society






10. The willingness and ability of buyers to purchase a good or service






11. Product - price - distribution - customer communication

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






13. Transferring work to another country






14. Sales promotion aimed at final consumers






15. Any 12 consecutive months used as an accounting period






16. Private funds - partners/shareholders - bank loans - asset leasing and hire purchase - venture capital/business angels - merger capital - retained profits






17. Positive reinforcement - negative reinforcement - punishment






18. Ratios that measure a firm's reliance on debt financing of its operations






19. Because production occurs continuously throughout the year - the 3-M company can best be described as using ____.






20. 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






21. All the operating expenses associated with marketing goods or services






22. A series of related products offered by a firm






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






24. 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






25. A prolonged and deep recession






26. 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






27. 1. 5 C's (customer - company - competitors - collaborators - context) 2. market segmentation - selection of target market - product/service positioning 3. product attributes - pricing parts - promotion - placement 4. recruit customer - reta






28. Stems from personal trust and respect members have for the leader






29. Management theory incorporating Japanese emphasis on collective decision making and concern for employees with American emphasis on individual responsibility is ____.






30. The purchase of one company by another






31. Cost of goods sold = beginning inventory + net purchases - ending inventory






32. Management process of determining how to best arrange an organization's resources and activities into a coherent structure






33. 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






34. Provides protection for the product - makes products easier to display - and attracts attention






35. Division of a diverse market into smaller - relatively homogeneous groups with similar needs - wants - and purchase behaviors






36. 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






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






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






39. Accounting method in which revenue is recorded when a sale is made and expense is recorded when it is incurred






40. A period during which aggregate output - as measured by GDP - declines






41. Product made or grown abroad but sold domestically






42. Use a brand name on a variety of related products






43. Obligations that fall due more than a year from the date of the balance sheet - Loans - leases - and bonds






44. Legal principal holding investors liable for a firm's debts only to the limits of their personal investments in it






45. Paid - nonpersonal communication to a target market from an identified sponsor using mass communications channels






46. Multiple year; compares two ratios in company's financial statements; sales - sales returns/allowance - net sales - gross marginal






47. Degree to which customers continue to buy from a particular retailer or buy the products of a particular manufacturer or service provider






48. Behavior conforming to generally accepted social norms concerning beneficial and harmful actions






49. Vying among businesses for the same resources or customers






50. Helps companies set goals - develop new products - segment markets - plan future marketing programs - evaluate the effectiveness of a marketing program - keep an eye on competition - and measure customer satisfaction







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Can you answer 50 questions in 15 minutes?


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