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. Multiple year; compares two ratios in company's financial statements; sales - sales returns/allowance - net sales - gross marginal
brand equity
capital investments
assets equation
horizontal analysis
2. Business with two or more owners who share in both the operation of the firm and the financial responsibility for its debts
product mix
Crisis Management
Pure Competition
General Partnership
3. Cost of producing or acquiring a company's products for sale during a given period
pull strategy
downsizing
target markets
cost of goods sold
4. Paid - nonpersonal communication to a target market from an identified sponsor using mass communications channels
Goals
Retailer
benchmarking
advertising
5. 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.
search advertising
Outcome-based ethics
Privatization
budget
6. Way of recording financial transactions that requires two entries for every transaction so that the accounting equation is always kept in balance
place utility
Leading
relationship marketing
double-entry bookkeeping
7. Organization's statement of how it will achieve its purpose in the environment in which it conducts business
Mission Statement
organization behavior modification
public relations approach
Globalization
8. Physical products purchased by consumers for personal use
Export
double-entry bookkeeping
activity ratios
Consumer Goods
9. An increase in liabilities
Tactical Management
Demand
Import
debit
10. Large-scale production and distribution of a product
inventory turnover ratio
direct marketing
debt financing
commercialization
11. Communications channels - such as newspapers - radio - and television
media
Recovery
opportunity cost
Labor Relations
12. The process in which managers and their employees jointly set objectives for the employees - periodically evaluate performance - and reward according to the results
theory x
social media
marketing research
management by objectives (MBO)
13. Hybrid of a closely held corporation and a partnership - organized and operated like a corporation but treated as a partnership for tax purposes
Standard of Living
middle management
Quality Control
S Corporation
14. Cost of goods sold = beginning inventory + net purchases - ending inventory
Information Technology (IT)
cost of goods sold equation
Privatization
form utility
15. A short - specific written statement of the reason a business exists and what it wants to achieve.
responsibility
Import
mission statement
Organizing
16. The practice of paying suppliers and distributors to perform certain business processes or to provide needed materials or services
assets equation
Outsourcing
premiums
sales promotion
17. Law created by consistitution(s) or by federal - state - or local legislative acts
contract
Matrix Structures
relationship marketing
Statutory Law
18. Poor predictor of what will excite consumers in the future; sometimes ineffective because it is conducted in an artificial setting
limitations of marketing research
return on sales
Closely Held (or Private) Corporation
market segmentation
19. Introducing a new product at a low price in hopes of building sales volume quickly
telemarketing
product line
penetration pricing
penetration pricing
20. Discount offered by producers to wholesalers and retailers
Out-sourcing
Safety
social media
trade allowance
21. Management process of monotoring an organization's performance to ensure that it is meeting its goals
Decision Making
Controlling
Expert Influence
capital investments
22. Done in conjunction with budgeting. Develops departmental maintenance and improvement goals for the coming year.
Pure Competition
Short-range or operational planning
Telemarketing
assets
23. Within an organization essentially answers the question 'Who reports to whom?' - Specific flow of authority down through the levels of an organization's structure.
Chain of Command
Middle Manager
Corporation
search advertising
24. Ratios that measure a firm's ability to meet its short-term obligations when they are due - judged on the basis of working capital - current ratio - and quick ratio
Monopolistic competition
how companies learn about customer
operating expenses
liquidity ratios
25. An action is morally correct - when - among the people it affects...
it produces the greatest amount of good for the greatest number
Nepotism
word of mouth
marketing research
26. Behavior exhibited by consumers as they consider - select - and purchase goods and services
Merger
news conference
customer buying behavior
Labor Productivity
27. In bookkeeping - an increase in assets
social commerce
Stockholder (or Shareholder)
unity of command
credit
28. Any things of value owned or leased by a business such as equipment - cash - land - buildings - inventory - investments - patents - and copyrights
assets
Recession
trade allowance
Maslow's hierarchy of needs
29. The degree to which customers continue to purchase a specific brand
social media approach
decline stage
Physical Distribution
brand loyalty
30. Corporation whose stock is widely held and available for sale to the general public
Publicly Held (or Public) Corporation
liquidity ratios
break-even analysis
debt financing
31. Power of a good or services to satisfy a human need
a continuous-flow operating system
statement of cash flows
productivity - the success of the managers - and the morale of the other employees
utility
32. Selling or supporting the sales process over the telephone
Patent
fixed assets
telemarketing
revenues
33. Building a specific and unique product to meet the needs of one consumer
exchange process
test marketing
Custom Manufacturing
Corporate Governance
34. Strategy in which two or more organizations collaborate on a project for mutual gain
function of labels
Long-range or strategic planning
Strategic Alliance
Tactical Management
35. Because production occurs continuously throughout the year - the 3-M company can best be described as using ____.
Unemployment
need
a continuous-flow operating system
balance sheet
36. Diagram depicting a company's structure and showing employees where they fit into its operations
skim pricing
management by objectives (MBO)
Organization Chart
double-entry bookkeeping
37. The phase in which unemployment begins to decrease. demand for goods and services increase - and GDP begins to rise
consumer market
national brands
public relations
Recovery
38. Marketers focus on stimulating demand for the new product
skim pricing
Labor Productivity
introductory stage
Management Information System (MIS)
39. A formal pledge obligating the issuer (the company) to pay interest periodically and repay the principal at maturity
Tall Organizational Structure
market segmentation
Corporate Bond
certain disabilities and illnesses
40. Favoritism shown to relatives or close friends by those in power (as by giving them jobs)
Affirmative Action
stages in the life cycle of a product
Nepotism
penetration pricing
41. Document in which an entrepreneur summarizes his or her business strategy for a proposed new venture and how that strategy will be implemented
return on investment
Accountability
Copyright
Business Plan
42. Creating a flatter organization structure normally cutting out middle management
inventory turnover ratio
financial plan
downsizing
Procedure
43. Business costs that increase with the number of units produced
variable costs
Imperfect Competition
Convenience Good/Convenience Service
Organizational Structure
44. A leadership style where the manager is directive and controlling
Consumer Goods
break-even point equation
quality control circles
Tactical Management
45. Measures income earned on owners' investment - formula: Net income/total owners' equity
Exchange Rate
return on equity ratio
liabilities
Processing
46. A business firm that does things for you instead of making or makerting products
price
form utility
Chief Executive Officer (CEO)
Service Business
47. Beliefs about what is right or wrong and good or bad in actions that affect others
Whistle Blower
Ethics
Hostile Work Environment
unity of command
48. The creation and sharing of product-related information among customers and potential customers
social commerce
marketable securities
job rotation
Divestiture
49. Legal principal holding owners responsible for paying off all debts of a business
market segmentation
time utility
Unlimited Liability
Market economy
50. Under the Americans with Disabilities Act - companies cannot fire or refuse to hire people because of...
Board of Directors
quick ratio
commercialization
certain disabilities and illnesses
Can you answer 50 questions in 15 minutes?
Let me suggest you:
Browse all subjects
Browse all tests
Most popular tests
Major Subjects
Tests & Exams
AP
CLEP
DSST
GRE
SAT
GMAT
Certifications
CISSP go to https://www.isc2.org/
PMP
ITIL
RHCE
MCTS
More...
IT Skills
Android Programming
Data Modeling
Objective C Programming
Basic Python Programming
Adobe Illustrator
More...
Business Skills
Advertising Techniques
Business Accounting Basics
Business Strategy
Human Resource Management
Marketing Basics
More...
Soft Skills
Body Language
People Skills
Public Speaking
Persuasion
Job Hunting And Resumes
More...
Vocabulary
GRE Vocab
SAT Vocab
TOEFL Essential Vocab
Basic English Words For All
Global Words You Should Know
Business English
More...
Languages
AP German Vocab
AP Latin Vocab
SAT Subject Test: French
Italian Survival
Norwegian Survival
More...
Engineering
Audio Engineering
Computer Science Engineering
Aerospace Engineering
Chemical Engineering
Structural Engineering
More...
Health Sciences
Basic Nursing Skills
Health Science Language Fundamentals
Veterinary Technology Medical Language
Cardiology
Clinical Surgery
More...
English
Grammar Fundamentals
Literary And Rhetorical Vocab
Elements Of Style Vocab
Introduction To English Major
Complete Advanced Sentences
Literature
Homonyms
More...
Math
Algebra Formulas
Basic Arithmetic: Measurements
Metric Conversions
Geometric Properties
Important Math Facts
Number Sense Vocab
Business Math
More...
Other Major Subjects
Science
Economics
History
Law
Performing-arts
Cooking
Logic & Reasoning
Trivia
Browse all subjects
Browse all tests
Most popular tests