Test your basic knowledge |

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. Accounting method in which revenue is recorded when payment is received and expense is recorded when cash is paid






2. Measures of the extent to which a business is financed by debt as opposed to invested capital - calculated by dividing the company's total liabilities by owners' equity






3. Corporation whose stock is widely held and available for sale to the general public






4. 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






5. Owner of shares of stock in a corporation






6. Specific goods - services - experiences - or other entities that are desirable in light of a person's experiences - culture - and personality






7. Economy in which individuals control production and allocation decisions through supply and demand






8. Skills in defining problems and selecting the best courses of action






9. Current assets minus current liabilities






10. Creating a flatter organization structure normally cutting out middle management






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






12. Advertising intended to remind existing customers of a product's availability and benefits






13. Selling method in which the price is set by customers bidding against each other






14. Good or service used as the basis of commerce






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






16. Economic system that allows individuals to pursue their own interests without undue governmental restriction






17. Delegating more power to employees






18. Measure of a firm's short-term liquidity - calculated by divided current assets by current liabilities






19. The way a manager teats and directs employees






20. In bookkeeping - an increase in assets






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






22. The delivery of marketing messages to people who are not aware that they are being marketing to; these messages can be delivered by either acquaintances or strangers - depending on the technique






23. Method of combining geographical data with demographic data to develop profiles of neighborhood segments






24. Small software programs that provide part of the functionality of a website






25. Once the desired price has been established - the firm focuses its energies on keeping costs at a level that will allow a healthy profit






26. Single year; A method of financial statement analysis in which each entry for each of the three major categories of accounts (assets - liabilities and equities) in a balance sheet is represented as a proportion of the total account; income statement






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






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






29. Large-scale production and distribution of a product






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






31. Strategies a company can adopt in order to grow: concentration - backward and forward integration - and related and unrelated diversification






32. Computer system that supports managers by providing information- reports - schedules - plans and budgets- that can be used for making decisions






33. Set of organizational activities directed at attracting - developing - and maintaining an effective workforce






34. Physical products purchased by companies to produce other products






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






36. Worker - consumer - citizen Consumers vote in favor of goods and services; Worker productivity is important for a nations advancement; Citizens join with other citizens in making some economical decision for the good of the community






37. Characteristic of decentralized companies with relatively few layers of management






38. Products characterized by a plain label - with no advertising and no brand name






39. This level of management includes department heads and district sales managers.






40. 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






41. Overall plan for marketing a product: includes the identification of target market segments - a positioning strategy - and a marketing mix






42. Obligations that must be next within a year






43. Statement of a firm's financial position on a particular date; also known as a statement of financial position






44. Larger visual and multimedia ads that appear on websites






45. Organization through which member nations negotiate trading agreements and resolve disputes about trade policies and practices






46. Brand awareness - brand preference - brand insistence






47. Total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located






48. Ethical or unethical behaviors by employees in the context of their jobs






49. An action is morally correct - when - among the people it affects...






50. Form of sexual harassment in which sexual favors are requested in return for job-related benefits