SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
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. A large number of identical products are assembled using a continuous - efficient procedure
Mass Production
Limited Liability Corporation (LLC)
balance sheet
specialty advertising
2. Being accountable or being able to justify an action
responsibility
5 C's
skim pricing
Philosophy
3. Partner who actively manages a firm and who has unlimited liability for its debts
Strategy
general expenses
Services
General (Active) Partner
4. Way of recording financial transactions that requires two entries for every transaction so that the accounting equation is always kept in balance
brand managers
Standard of Living
double-entry bookkeeping
Oligopoly
5. Form of nonstore retailing in which the telephone is used to sell directly to consumers
working capital
Limited Partner
Processing
Telemarketing
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
private brands
Corporation
liabilities
Ethics
7. Agreement to produce and market another company's product in exchange for a royalty or fee
license
Small Business Administration (SBA)
social media approach
push strategy
8. Loss of brand identity and the cannibalization of sales of other products in the product line
management by objectives (MBO)
risks of product-line extensions
levels of brand loyalty
break-even point equation
9. Mechanism for exchange between buyers and sellers of a particular good or service
Herzberg's two-factor theory
Long-range or strategic planning
Market
product advertising
10. Acquiring funds through borrowing
contingency plans
certain disabilities and illnesses
debt financing
Pure Competition
11. Customer value added by making a product available in a convenient location
negative reinforcement
vertical analysis
Mission Statement
place utility
12. Identification and marketing of a social issues - cause - or idea to selected target markets
cause-related marketing
Information Technology (IT)
Corporation
communication mix
13. Economic system that allows individuals to pursue their own interests without undue governmental restriction
form utility
Wholesaler
Management
Private enterprise
14. A business that grows products or takes raw material from nature
Organizational Structure
Extractor
Limited Liability
accounts receivable turnover ratio
15. Market structure that does not meet all conditions of perfect competition - three catagories: monopolistic - oligopoly & monopoly
Real GDP
strategic marketing planning
Imperfect Competition
assets equation
16. The movement of an economy from one condition to another and back again
Monopolistic Competition
liquidity ratios
Business Cycle
Outsourcing
17. Statement of a firm's cash receipts and cash payments that presents information on its sources and uses of cash
debt financing
statement of cash flows
Policy
Laws
18. Portion of a brand that cannot be expressed verbally
communication mix
Telemarketing
debt-to-total-assets ratio
brand mark
19. The various appliances and devices for creating - storing - exchanging - and using information in diverse modes - including visual images - voice - multimedia - and business data
Information Technology (IT)
Deregulation
Short-Term Goal
Management Information System (MIS)
20. From of sexual harassment deriving from off-color jokes - lewd comments - and so forth
responsibility
trademarks
Hostile Work Environment
factors that influence pricing decisions
21. Process of converting government enterprises into privately owned companies
Chain of Command
laissez-faire Leadership style
Privatization
specialty advertising
22. Organization through which member nations negotiate trading agreements and resolve disputes about trade policies and practices
World Trade Organization (WTO)
Functional Strategy
Recession
marketing strategy
23. Non-fluctuating rate that banks use to offer short-term loans of high dollar amounts made up of several interest rates
current liabilities
assets equation
Prime Rate
Chain of Command
24. The total quantity and quality of goods and services people can purchase with the currency used in their economic system
Delegation
Standard of living
Expert Influence
Officers
25. Legal principal holding investors liable for a firm's debts only to the limits of their personal investments in it
Retailer
marketing research
Position Influence
Limited Liability
26. Larger visual and multimedia ads that appear on websites
inventory turnover ratio
Long-range or strategic planning
return on equity ratio
online display advertising
27. Organization for economic - social - and security cooperation among European nations
Divestiture
European Union (EU)
operating expenses
Sexual Harassment
28. Promotional approach designed to motivate wholesalers and retailers to push a producer's products to end users
working capital
communication mix
certain disabilities and illnesses
push strategy
29. Planning and control tool that reflects expected revenues - operating expenses - and cash receipts and outlays
budget
capital investments
generic products
Insider Trading
30. A formal pledge obligating the issuer (the company) to pay interest periodically and repay the principal at maturity
Perfect competition
Corporate Bond
Limited Partner
negative reinforcement
31. Power of a good or services to satisfy a human need
utility
working capital
brand names
news conference
32. Stems from personal trust and respect members have for the leader
Decision Making
communication mix
possession utility
Identity Influence
33. Form of a corporation spanning national boundaries
family branding
organization behavior modification
Multinational (or Transnational) Corporation
stages of product development
34. Characteristic of decentralized companies with relatively few layers of management
net income
Prosperity
brand mark
Flat Organizational Structure
35. Top manager who is responsible for the overall performance of a corporation
Chief Executive Officer (CEO)
double-entry bookkeeping
Work Specialization
trademarks
36. Identification and analysis of organizational strengths and weaknesses and environmental opportunities and threats as part of strategy formulation
Swot Analysis
risks of product-line extensions
sales promotion approach
Recovery
37. Business costs that increase with the number of units produced
balance sheet
point-of-purchase display
Management Information System (MIS)
variable costs
38. Strategy in which two or more organizations collaborate on a project for mutual gain
Joint Venture
Strategic Alliance
credit
widgets
39. Systematic direction and control of the processes that transform resources into finished products that create value for and provide benefits to customers
elements of a company's marketing mix
Export
net income
Operations (Production) Management
40. The practice of paying suppliers and distributors to perform certain business processes or to provide needed materials or services
S Corporation
Recession
Outsourcing
place utility
41. Four basic stage through which a product progresses: introduction - growth - maturity - and decline
product life cycle
credit
personal sales approach
rebates
42. External statistical descriptors such as age - income - gender - and profession
inventory turnover ratio
Out-sourcing
permission marketing
demographics
43. Measure of a firm's ability to carry long-term debt - calculated by divided total liabilities by total assets
brand extension
Recession
debt-to-total-assets ratio
Regulatory (Administrative) Law
44. Process of planning and executing the conception - pricing - promotion - and distribution of ideas - goods - and services to create and maintain relationships
marketing
Whistle Blower
activity ratios
marketing mix
45. The phase in which unemployment begins to decrease. demand for goods and services increase - and GDP begins to rise
Statutory Law
Recovery
price based pricing
Short-range or operational planning
46. Marketers focus on stimulating demand for the new product
Marketer
Unethical Behavior
consumer market
introductory stage
47. Something that the employee dislikes is taken away
types of financial ratios
consumer market
capital budgeting
negative reinforcement
48. Power to make the decisions necessary to complete a task
owner's equity
vertical analysis
Leadership
Authority
49. Product development stage in which a product is sold on a limited basis - a trial introduction
theory x
corporate strategies
General (Active) Partner
test marketing
50. Categorization of customers according to their geographical location
consumer market
Ethical Behavior
geographic segmentation
Depression