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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. Internal descriptors such as attitudes - interests - values - behaviors - and habits






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






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






4. Process of dealing with employees who are represented by a union






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






6. Brands owned by the manufacturers and distributed nationally






7. Business owned and usually operated by one person who is responsible for all its debts






8. Effective acquisition and use of money






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






10. 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






11. Assets - liabilities = owner's equity

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12. Within an organization essentially answers the question 'Who reports to whom?' - Specific flow of authority down through the levels of an organization's structure.






13. Small groups in the same work area that have scheduled meetings about problems and how to fix them






14. Organization in which a great deal of decision-making authority is delegated to levels of management at points below the top






15. Study of statistical characteristics of a population






16. A detailed series of related steps or tasks written to implement a policy is called a ____.






17. Bar codes on product packages that provide information read by optical scanners






18. Online ads that are linked to search engine results or website content






19. 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






20. Mechanism for exchange between buyers and sellers of a particular good or service






21. 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.






22. The process of examining an organization's current marketing situation - assessing opportunities and setting objectives - then developing a marketing strategy to reach those objectives






23. Advertising that tries to sell specific goods or services - generally by describing features - benefits - and occasionally - price






24. People are internally motivated






25. Exclusive right to manufacture - sell or use a new invention - prevents someone from stealing and profiting from your invention






26. Managers and workers cooperating as a team






27. Certificates that offer discounts on particular items and are redeemed at the time of purchase






28. Diagram depicting a company's structure and showing employees where they fit into its operations






29. A sustained increase in the general level of prices






30. Ratios that measure the effectiveness of the firm's use of its resources






31. Brief statement or video program released to the press announcing new products - management changes - sales performance - and other potential news items






32. Way of recording financial transactions that requires two entries for every transaction so that the accounting equation is always kept in balance






33. Amounts that are currently due to a company






34. Process of subdividing a market into homogeneous groups to identify potential customers and to devise marketing approaches geared to their needs and interests






35. Confusion results if a person reports to two people at once - according to ____.






36. Favoritism shown to relatives or close friends by those in power (as by giving them jobs)






37. When organizations change raw materials into finished goods






38. 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






39. Strategy by which managers in specific areas decide how best to achieve corporate goals through productivity






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






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






42. Arrangement in which a buyer (franchisee) purchases the right to sell the good or service of the seller (franchiser)






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






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






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






46. Measure of profitability calculated by divided net income after taxes by the average number of shares of common stock outstanding






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






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






49. Intermediary who sells products to other businesses for resale to final consumers






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







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Can you answer 50 questions in 15 minutes?


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