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






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






3. Business that is legally considered an entity separate from its owners and is liable for its own debts; owners' liabilities extend to the limits of their investments






4. Utilitarianism: outcome oriented - focuses on the consequences of an action - not on the nature of the action itself or on any set of preestablished moral values or religious beliefs.






5. The degree to which customers continue to purchase a specific brand






6. Assets = liabilities + owner's equity






7. Exchange of value between parties






8. Behavior that does not conform to generally accepted social norms concerning beneficial and harmful actions






9. profitability - liquidity - activities - and leverage/debt






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






11. Brands that carry the label of a retailer or a wholesaler rather than a manufacturer






12. Represents how many employees the manager is responsible for in the organization - Narrow spans of control allow managers to be much more hands-on with employees.






13. Good or service used as the basis of commerce






14. The ability to carry out a task






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






16. The movement of an economy from one condition to another and back again






17. An overall corporate strategy for growth - stability - or turnaround and retrenchment - or for some combination of these






18. Behavior exhibited by consumers as they consider - select - and purchase goods and services






19. Gross domestic product (GDP) adjusted to account for changes in currency values and price changes






20. Motivator and hygiene factors need to be met to prevent dissatisfaction

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21. The collection and analysis of information for making marketing decisions






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






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






24. Takes the extractor's products or raw materials and changs the into a form that consumers can use






25. Statement of a firm's cash receipts and cash payments that presents information on its sources and uses of cash






26. Changing jobs or tasks from time to time






27. A type of imperfect competition such that competing producers sell products that are differentiated from one another as good but not perfect substitutes (such as from branding - quality - or location). In monopolistic competition - a firm takes th






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






29. Using promotion - product - distribution - and price to differentiate a good or service from those of competitors in the mind of the prospective buyer






30. A series of related products offered by a firm






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






32. A firm's portion of the total sales in a market






33. Done in conjunction with budgeting. Develops departmental maintenance and improvement goals for the coming year.






34. In a ____ authority originates at the top and moves downward in a line.






35. Individuals or households that buy goods and services for personal use






36. Transferring work to another country






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






38. Short-term credit or debt amounts that a company owes its suppliers: the company's "bills" in other words






39. Media: tv - radio - internet - print; audience: broad - intensity: passive - purpose: inform - persuade






40. Physical products purchased by companies to produce other products






41. Legal principal holding owners responsible for paying off all debts of a business






42. Objective that a business hopes and plans to achieve






43. Obligations that fall due more than a year from the date of the balance sheet - Loans - leases - and bonds






44. Accounting procedure for systematically spreading the cost of a tangible asset over its estimated useful life






45. Authority granted to committees or teams involved in a firm's daily operations






46. Advertising sent directly to potential customers - usually through the mail






47. A short - specific written statement of the reason a business exists and what it wants to achieve.






48. Helps companies set goals - develop new products - segment markets - plan future marketing programs - evaluate the effectiveness of a marketing program - keep an eye on competition - and measure customer satisfaction






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






50. Business costs that remain constant regardless of the number of units produced