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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. Results from the leader's ability to give or withhold rewards
Copyright
Policy
Reward Influence
Identity Influence
2. Wide range of events and activities (including coupons - rebates - contests - in-store demonstrations - free samples - trade shows - and point-of-purchase displays) designed to stimulate interest in a product
Unemployment
long-term liabilities
Chain of Command
sales promotion
3. The degree to which customers continue to purchase a specific brand
Restructuring
Decision-Making Skills
First-Line Manager
brand loyalty
4. A forecast of financial requirements and the financing sources to be used
Physical Distribution
financial plan
Demand
forecasting
5. Portion of a brand that cannot be expressed verbally
brand mark
Business (or Competitive) Strategy
Price Fixing
Socialism
6. Promotional approach designed to motivate wholesalers and retailers to push a producer's products to end users
push strategy
positive reinforcement
utility
grand strategies
7. Expensive - rarely purchased good or service
Specialty Good/Specialty Service
advertising approach
Autocratic Leadership style
Unethical Behavior
8. Selling or supporting the sales process over the telephone
public relations
telemarketing
European Union (EU)
Contingent Worker
9. Process of building - maintaining - and using customer databases for the purpose of contacting customers and transacting business
Reward Influence
database marketing
Marketing
break-even analysis
10. Promotional campaigns that send information only to those people who've specifically asked to receive it
Democratic Leadership Style
Industrial Goods
Safety
permission marketing
11. Process through which a manager allocates work to subordinates
online display advertising
Delegation
SWOT analysis
permission-based marketing
12. Arises when group members recognize that the leader has special expertise in the area
ratio analysis
Divestiture
Expert Influence
First-Line Manager
13. Law created by consistitution(s) or by federal - state - or local legislative acts
Consumer Goods
Statutory Law
Position Influence
telemarketing
14. Obligations that must be next within a year
accounts payable
current liabilities
Outcome-based ethics
geodemographics
15. Roles of shareholders - directors - and other managers in corporate decision making and accountability
Organization Chart
Corporate Governance
widgets
growth stage
16. Legal principal holding investors liable for a firm's debts only to the limits of their personal investments in it
time utility
Board of Directors
psychographics
Limited Liability
17. People are lazy
theory x
public relations
geographic segmentation
Board of Directors
18. Customer value created when someone takes ownership of a product
negative reinforcement
operating expenses
possession utility
Strategic Alliance
19. Accounting method in which revenue is recorded when a sale is made and expense is recorded when it is incurred
Organizational Structure
search advertising
contract
accrual basis
20. Manager responsible for a firm's overall performance and effectiveness
Physical Distribution
Top Manager
exchange process
calendar year
21. All costs of operation that are not included under cost of goods sold
operating expenses
Standard of Living
direct mail
Divestiture
22. An overall corporate strategy for growth - stability - or turnaround and retrenchment - or for some combination of these
grand strategies
Venture Capital Company
debt ratios
behavioral segmentation
23. The marketer must decide whether to keep the product and reduce its costs to compensate for declining sales or to discontinue it
decline stage
cost of goods sold
Small Business Administration (SBA)
accounts payable
24. Brands owned by the manufacturers and distributed nationally
how companies learn about customer
national brands
Depression
Socialism
25. Elimination of rules that restrict business activity
expenses
Span of Control
cost based pricing
Deregulation
26. Measure of profitability calculated by divided net income after taxes by the average number of shares of common stock outstanding
cost of goods sold
advertising
Mission Statement
earnings per share
27. Cash and items that can be turned into cash within one year
Top Manager
Gross Domestic Product (GDP)
current assets
quality control circles
28. Document in which an entrepreneur summarizes his or her business strategy for a proposed new venture and how that strategy will be implemented
Chief Executive Officer (CEO)
Purchasing Power Party
Strategic Management
Business Plan
29. Transferring work to another country
Prosperity
Out-sourcing
objectives
Chain of Command
30. Strategy by which managers in specific areas decide how best to achieve corporate goals through productivity
Extension
Functional Strategy
commercialization
Venture Capital Company
31. Once the desired price has been established - the firm focuses its energies on keeping costs at a level that will allow a healthy profit
how companies learn about customer
accounts receivable turnover ratio
grand strategies
price based pricing
32. Strategy in which two or more organizations collaborate on a project for mutual gain
Strategic Alliance
customer loyalty
Organizational Chart
Three reasons nations trade
33. Process of subdividing a market into homogeneous groups to identify potential customers and to devise marketing approaches geared to their needs and interests
market segmentation
Crisis Management
direct marketing approach
wants
34. Money paid to acquire something of permanent value in a business
capital investments
Stockholder (or Shareholder)
positive reinforcement
Benefits
35. The price of your nation's currency is in terms of another nation's currency
Oligopoly
demographics
Exchange Rate
news release
36. Management process of determining what an organization needs to do and how best to get it done
private brands
Supply Chain (Value Chain)
Planning
marketing research
37. A short - specific written statement of the reason a business exists and what it wants to achieve.
North American Free Trade Agreement (NAFTA)
mission statement
Monopolistic Competition
Recession
38. Where products are conveniently placed for customers
news conference
Certificate of Incorporation
price elasticity
place utility
39. Business costs that increase with the number of units produced
inventory turnover ratio
financial control
Industrial Goods
variable costs
40. Examining your current marketing situation - assessing your opportunities and setting your objectives - and developing your market strategy
debt-to-equity ratio
European Union (EU)
steps in the strategic marketing planning process
Small Business Administration (SBA)
41. Mix of people in organizations in terms of essential/demographic status
Closely Held (or Private) Corporation
revenues
Workplace Diversity
categories of customer communication
42. Stems from personal trust and respect members have for the leader
Identity Influence
co-branding
working capital
marketable securities
43. The creation and sharing of product-related information among customers and potential customers
social commerce
Accountability
growth through direction state
possession utility
44. People are internally motivated
Crisis Management
Capitalism
Operations (Production) Management
theory y
45. Management process of guiding and motivating employees to meet an organization's objectives
positioning
Identity Influence
Leading
Organizational Chart
46. Demographics - psychographics - and geographics
Merger
primary factors of market segmentation
credit
product life cycle
47. Good or service used as the basis of commerce
product mix
Organizational Chart
Affirmative Action
product
48. Accounting method in which revenue is recorded when payment is received and expense is recorded when cash is paid
Competition
cash basis
Mixed Management
Corporate Strategy
49. Gathering of media representatives at which companies announce new information; also called a press conference or press briefing
Corporate Strategy
news conference
responsibility
Monopoly
50. Non-fluctuating rate that banks use to offer short-term loans of high dollar amounts made up of several interest rates
Strategic Alliance
Prime Rate
Organizational Stakeholders
Middle Manager