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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. Free or bargain-priced items offered to encourage customers to buy a product






2. Acquiring funds through borrowing






3. Management theory incorporating Japanese emphasis on collective decision making and concern for employees with American emphasis on individual responsibility is ____.






4. Non-fluctuating rate that banks use to offer short-term loans of high dollar amounts made up of several interest rates






5. 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






6. Paid - nonpersonal communication to a target market from an identified sponsor using mass communications channels






7. Filling caps in the market - extending the line to include new varieties of existing products - extending the brand to new product categories - and stretching the lien to include lower or higher priced items






8. Classification of customers on the basis of their psychological makeup - interests - and lifestyles






9. Organization for economic - social - and security cooperation among European nations






10. Business with two or more owners who share in both the operation of the firm and the financial responsibility for its debts






11. A period during which aggregate output - as measured by GDP - declines






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






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






14. Being accountable or being able to justify an action






15. Management process of determining what an organization needs to do and how best to get it done






16. When organizations change raw materials into finished goods






17. Unwelcome sexual advances in the workplace






18. Planned economic system in which the government owns and operates only selected major sources of production






19. 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.






20. Roles of shareholders - directors - and other managers in corporate decision making and accountability






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






22. Media: mail - telephone - internet - audience: target potential buyers - intensity: passive - purpose: persuade






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






24. Process by which the world is becoming a single interdependent system






25. By making changes in policies or resolving conflicts in the workplace - a manager is working within his or her ____.






26. Pricing selling one product at a loss as a way to entice customers to consider other products






27. Applying a successful brand name to a new product category






28. Assets = liabilities + owner's equity






29. A business firm that does things for you instead of making or makerting products






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






31. Strategy whereby a firm sells one or more of its business units






32. The union of two corporations to form a new corporation






33. A measure of the sensitivity of demand to changes in price






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






35. Brands that have been given legal protection so that their owners have exclusive rights to their use






36. Tension that exists when a person's beliefs don't match his or her behaviors: a common example is buyer's remorse - when someone regrets a purchase immediately after making it






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






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






39. 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






40. Management process of determining how to best arrange an organization's resources and activities into a coherent structure






41. Intermediary who sells products directly to consumers






42. Use a brand name on a variety of related products






43. Top management team of a corporation






44. Stocks - bonds - and other investments that can be turned into cash quickly






45. Examining your current marketing situation - assessing your opportunities and setting your objectives - and developing your market strategy






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






47. The process of analyzing and adjusting the basic financial plan to correct for forecasted events that do not materialize






48. Accounting method in which revenue is recorded when a sale is made and expense is recorded when it is incurred






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






50. Behavior conforming to generally accepted social norms concerning beneficial and harmful actions







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Can you answer 50 questions in 15 minutes?


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