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






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






3. Statement of a firm's financial position on a particular date; also known as a statement of financial position






4. People are lazy






5. Effective acquisition and use of money






6. Study of statistical characteristics of a population






7. Manager responsible for supervising the work of employees






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






9. This level of management includes department heads and district sales managers.






10. Portion of a brand that cannot be expressed verbally






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






12. When a task is too time consuming for a manager to handle alone - he or she may ____.






13. Worker - consumer - citizen Consumers vote in favor of goods and services; Worker productivity is important for a nations advancement; Citizens join with other citizens in making some economical decision for the good of the community






14. Ratio between net income after taxes and total owners' equity; also known as return on equity






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






16. Extends 3 to 5 years into the future. Begins with in-depth analysis of internal environment's strengths and weaknesses. Reviews external opportunities and threats so realistic goals can be set






17. Personal communication between a seller and one or more potential buyers






18. Any 12 consecutive months used as an accounting period






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






20. Assets = liabilities + owner's equity






21. Inexpensive good or service purchased and consumed rapidly and regularly






22. Broad set of organizational plans for implementing the decisions made for achieving organizational goals






23. Introductory stage - growth stage - maturity stage - decline stage






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






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






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






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






28. Assets = liabilities + owner's equity






29. Costs created in the process of generating revenues






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






31. Product made or grown domestically but sold abroad






32. Money paid to acquire something of permanent value in a business






33. Strategy of coordinating and integrating all communications and promotional efforts with customers to ensure greater efficiency and effectiveness






34. The level of joblessness among people actively seeking work in an economic system






35. Court-granted permission for a company to not pay some or all debts






36. A leadership style where the manager is directive and controlling






37. Managers and workers cooperating as a team






38. An extra amount of time granted to a party to make a payment






39. Single year; A method of financial statement analysis in which each entry for each of the three major categories of accounts (assets - liabilities and equities) in a balance sheet is represented as a proportion of the total account; income statement






40. Are a more complex form of organizational design that tries to take advantage of two types of structures at the same time. - The matrix represents a combination of a functional structure and a product structure.






41. A Theory Y manager is most likely to ____.






42. A forecast of financial requirements and the financing sources to be used






43. Systems for moving goods and services from producers to customers; also known as marketing channels






44. Law created by consistitution(s) or by federal - state - or local legislative acts






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






46. Independent and well informed buyers and sellers of the exact same product (farmers markets)






47. Advertising that seeks to create goodwill and to build a desired image for a company rather than to sell specific products






48. The benefit lost from the next best alternative; what you have to give up - to get what you want or need the most






49. Creating a flatter organization structure normally cutting out middle management






50. Marketing approach in which firms first ask permission to deliver messages to an audience and then promise to restrict their communication efforts to those subject areas in which audience members have expressed interest