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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. 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






2. Vying among businesses for the same resources or customers






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






4. Specification of the jobs to be done within an organization and the ways in which they relate to one another






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






6. Poor predictor of what will excite consumers in the future; sometimes ineffective because it is conducted in an artificial setting






7. Markets focus on increasing the product's market share






8. 12 month accounting period that begins on January 1 and ends on December 31






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






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






11. Measure how well a company is managing assets; two types inventory turnover and accounts receivable turnover






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.






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






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






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






16. Large-scale production and distribution of a product






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






18. Unwelcome sexual advances in the workplace






19. All costs of operation that are not included under cost of goods sold






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






21. The value that a company has built up in a brand






22. Strategy of coordinating and integrating all communications and promotional efforts with customers to ensure greater efficiency and effectiveness






23. The way you live as measure by the kinds and quality of goods and services you can afford






24. Assets = liabilities + owner's equity






25. From of sexual harassment deriving from off-color jokes - lewd comments - and so forth






26. Location






27. Offering several products for a single price that is presumably lower than the total of the products' individual prices






28. Business costs that increase with the number of units produced






29. Demographics - psychographics - and geographics






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






31. Customer value added by making a product available in a convenient location






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






33. A business that grows products or takes raw material from nature






34. Wide variety of persuasive techniques used by companies to communicate with their target markets and the general public






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






36. Type of partnership consisting of limited partners and a general (or active) partner






37. Roles of shareholders - directors - and other managers in corporate decision making and accountability






38. Marketing efforts to attract people and organizations to a particular geographical area






39. Charging a high price for a new product during the introductory stage and lowering the price later






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






41. When a task is too time consuming for a manager to handle alone - he or she may ____.






42. Assets = liabilities + owner's equity






43. Owner of shares of stock in a corporation






44. Rewarded for good performance; something the employee likes is praised






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






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






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






48. The creation and sharing of product-related information among customers and potential customers






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






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







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Can you answer 50 questions in 15 minutes?


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