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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. Method of combining geographical data with demographic data to develop profiles of neighborhood segments
brand managers
Policy
geodemographics
revenues
2. The processes and behaviors used by someone - such as a manager - to motivate - inspire - and influence the behaviors of others
customer service
Leadership
Multinational (or Transnational) Corporation
Outsourcing
3. The practice of paying suppliers and distributors to perform certain business processes or to provide needed materials or services
Pure Competition
Closely Held (or Private) Corporation
Outsourcing
brand
4. Discount offered by producers to wholesalers and retailers
Tall Organizational Structure
Processing
trade allowance
Export
5. Ethical or unethical behaviors by employees in the context of their jobs
debit
Board of Directors
Convenience Good/Convenience Service
Business Ethics
6. Money paid to acquire something of permanent value in a business
capital investments
Deregulation
Socialism
Specialty Good/Specialty Service
7. Multiple year; compares two ratios in company's financial statements; sales - sales returns/allowance - net sales - gross marginal
Prosperity
horizontal analysis
Bankruptcy
public relations
8. Marketing approach in which firms first ask permission to deliver messages to an audience and then promise to restrict their communication efforts to those subject areas in which audience members have expressed interest
3 Economic Role
Workplace Diversity
Bankruptcy
permission-based marketing
9. An overall corporate strategy for growth - stability - or turnaround and retrenchment - or for some combination of these
Out-sourcing
grand strategies
need
database marketing
10. Being accountable or being able to justify an action
test marketing
responsibility
Competition
place utility
11. Statement of a firm's cash receipts and cash payments that presents information on its sources and uses of cash
wants
Market economy
Monopolistic Competition
statement of cash flows
12. This level of management includes department heads and district sales managers.
debit
Service Business
middle management
credit
13. External statistical descriptors such as age - income - gender - and profession
debt ratios
demographics
inventory turnover ratio
introductory stage
14. Products characterized by a plain label - with no advertising and no brand name
brand
Identity Influence
financial management
generic products
15. Act of obtaining a desired object or services from another party by offering something of value in return
exchange process
current ratio
Collusion
trade allowance
16. A phase of the business cycle when most people who want to work are working and businesses produce goods and services in record numbers
Autocratic Leadership style
growth stage
co-branding
Prosperity
17. Small software programs that provide part of the functionality of a website
Corporate Bond
widgets
close the books
working capital
18. Costs created in the process of generating revenues
benchmarking
depreciation
Corporate Governance
expenses
19. The quantity of a good that an average worker can produce in an hour
Labor Productivity
responsibility
social media approach
categories of customer communication
20. Marketing efforts to attract people and organizations to a particular geographical area
Corporate Bond
authority
sales promotion approach
place marketing
21. Manager responsible for a firm's overall performance and effectiveness
advertising
Top Manager
Socialism
mission statement
22. Process by which the world is becoming a single interdependent system
Export
market
Leading
Globalization
23. Gathering of media representatives at which companies announce new information; also called a press conference or press briefing
push strategy
Statutory Law
news conference
Mass Production
24. Takes the extractor's products or raw materials and changs the into a form that consumers can use
cost based pricing
Perfect competition
social commerce
Manufacturer
25. Lots of leeway to workers to meet goals
online display advertising
Depression
laissez-faire Leadership style
Monopolistic Competition
26. Management process of determining what an organization needs to do and how best to get it done
Planning
online display advertising
Tall Organizational Structure
types of utility
27. Codified rules of behavior enforced by society
Information Technology (IT)
Consumer Goods
Laws
variable costs
28. Characteristic of decentralized companies with relatively few layers of management
objectives
place utility
Flat Organizational Structure
sales promotion
29. Short-term credit or debt amounts that a company owes its suppliers: the company's "bills" in other words
Chief Executive Officer (CEO)
Recession
Stockholder (or Shareholder)
accounts payable
30. Start with the cost of producing a good or a service and then add a markup to the cost of the product to produce a product
methods of finance for an expanding business
Insider Trading
cost based pricing
permission marketing
31. Certificates that offer discounts on particular items and are redeemed at the time of purchase
debit
product mix
coupons
Monopoly
32. Are a more complex form of organizational design that tries to take advantage of two types of structures at the same time. - The matrix represents a combination of a functional structure and a product structure.
co-branding
Matrix Structures
marketing strategy
Flat Organizational Structure
33. The ability to get others to accoplish tasks because of the position the leader holds
net income
social commerce
permission-based marketing
Position Influence
34. Payments other than wages or salaries - other benefits
variable costs
Theory Z
Long-Term Goal
fringe benefit
35. Corporation whose stock is widely held and available for sale to the general public
Small Business Administration (SBA)
Publicly Held (or Public) Corporation
current liabilities
Organizational Stakeholders
36. Strategies a company can adopt in order to grow: concentration - backward and forward integration - and related and unrelated diversification
Copyright
benchmarking
growth strategies
push strategy
37. Amount earned from sales of goods or services and inflow from miscellaneous sources such as interest - rent - and royalties
demographics
Pure Competition
revenues
Monopolistic competition
38. Efforts a company makes to satisfy its customers to help them realize the greatest possible value from the products they are purchasing
market
private brands
customer service
market segmentation
39. 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
break-even analysis
credit
Long-range or strategic planning
statement of cash flows
40. Categorization of customers according to their relationship with products or response to product characteristics
behavioral segmentation
Short-Term Goal
Board of Directors
price elasticity
41. A statement of what is to be accomplished that is expressed in singular - specific - and measurable terms with a target date
customer service
objectives
Leading
Retailer
42. Markets focus on increasing the product's market share
time utility
news conference
growth stage
Outsourcing
43. Accounting procedure for systematically spreading the cost of a tangible asset over its estimated useful life
Price Fixing
depreciation
exchange process
World Trade Organization (WTO)
44. Method of calculating the minimum volume of sales needed at a given price to cover all costs
brand extension
break-even analysis
Identity Influence
Franchise
45. Independent and well informed buyers and sellers of the exact same product (farmers markets)
Pure Competition
Private enterprise
consumer market
need
46. Media: tv - radio - internet - print; audience: broad - intensity: passive - purpose: inform - persuade
Socialism
advertising approach
debit
Audit
47. One seller of a product - denies people competition and is against the law (They can typically raise prices)
Maslow's hierarchy of needs
customer loyalty
Monopoly
permission-based marketing
48. A focus on developing and maintaining long-term relationships with customers - suppliers - and distribution partners for mutual benefit
Strategic Management
Autocratic Leadership style
relationship marketing
Centralized Organization
49. Help identify and distinguish the product - provide information about the product such as ingredients - shelf life - operating procedures - and UPC codes which are used for scanning sales information and monitoring inventory and pricing
place utility
function of labels
marketing research
discount pricing
50. All costs of operation that are not included under cost of goods sold
operating expenses
telemarketing
direct mail
types of financial ratios