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. A large number of identical products are assembled using a continuous - efficient procedure






2. Being accountable or being able to justify an action






3. Partner who actively manages a firm and who has unlimited liability for its debts






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






5. Form of nonstore retailing in which the telephone is used to sell directly to consumers






6. 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






7. Agreement to produce and market another company's product in exchange for a royalty or fee






8. Loss of brand identity and the cannibalization of sales of other products in the product line






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






10. Acquiring funds through borrowing






11. Customer value added by making a product available in a convenient location






12. Identification and marketing of a social issues - cause - or idea to selected target markets






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






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






15. Market structure that does not meet all conditions of perfect competition - three catagories: monopolistic - oligopoly & monopoly






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






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






18. Portion of a brand that cannot be expressed verbally






19. The various appliances and devices for creating - storing - exchanging - and using information in diverse modes - including visual images - voice - multimedia - and business data






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






21. Process of converting government enterprises into privately owned companies






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






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






24. The total quantity and quality of goods and services people can purchase with the currency used in their economic system






25. Legal principal holding investors liable for a firm's debts only to the limits of their personal investments in it






26. Larger visual and multimedia ads that appear on websites






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






28. Promotional approach designed to motivate wholesalers and retailers to push a producer's products to end users






29. Planning and control tool that reflects expected revenues - operating expenses - and cash receipts and outlays






30. A formal pledge obligating the issuer (the company) to pay interest periodically and repay the principal at maturity






31. Power of a good or services to satisfy a human need






32. Stems from personal trust and respect members have for the leader






33. Form of a corporation spanning national boundaries






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






35. Top manager who is responsible for the overall performance of a corporation






36. Identification and analysis of organizational strengths and weaknesses and environmental opportunities and threats as part of strategy formulation






37. Business costs that increase with the number of units produced






38. Strategy in which two or more organizations collaborate on a project for mutual gain






39. Systematic direction and control of the processes that transform resources into finished products that create value for and provide benefits to customers






40. The practice of paying suppliers and distributors to perform certain business processes or to provide needed materials or services






41. Four basic stage through which a product progresses: introduction - growth - maturity - and decline






42. External statistical descriptors such as age - income - gender - and profession






43. Measure of a firm's ability to carry long-term debt - calculated by divided total liabilities by total assets






44. Process of planning and executing the conception - pricing - promotion - and distribution of ideas - goods - and services to create and maintain relationships






45. The phase in which unemployment begins to decrease. demand for goods and services increase - and GDP begins to rise






46. Marketers focus on stimulating demand for the new product






47. Something that the employee dislikes is taken away






48. Power to make the decisions necessary to complete a task






49. Product development stage in which a product is sold on a limited basis - a trial introduction






50. Categorization of customers according to their geographical location