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. Employee who detects and tries to put an end to a company's unethical - illegal - or socially irresponsible actions by publicizing them






2. Any 12 consecutive months used as an accounting period






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






4. Profit earned or loss incurred by a firm - determined by subtracting expenses from revenues; also called the bottom line






5. Media: networks - audience: potential buyers - intensity: passive/active - purpose: inform - persuade - remind






6. 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






7. Sales-promotion efforts aimed at inducing distributors or retails to push a producer's products






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






9. The quantity of a good that an average worker can produce in an hour






10. Group of small investors who invest money in companies with rapid growth potential






11. A group of customer who need or want a particular product and have the money to buy it






12. Offering several products for a single price that is presumably lower than the total of the products' individual prices






13. Where products are conveniently placed for customers






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






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






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






18. Something that the employee dislikes is taken away






19. Electronic media that invite participation by the general public






20. Portion of a brand that can be expressed orally - including letters - words - or numbers






21. Online ads that are linked to search engine results or website content






22. Use of quantitative measures to evaluate a firm's financial performance - compares two elements from the same year's financial figures; computed by divided one element of a financial statement by another






23. Accounting procedure for systematically spreading the cost of a tangible asset over its estimated useful life






24. Advertising that appears on various items such as coffee mugs - pens - and calendars - designed to help keep a company's name in front of customers






25. Organization in which a great deal of decision-making authority is delegated to levels of management at points below the top






26. Cash and items that can be turned into cash within one year






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






28. Partnership between two or more companies to closely link their brand names together for a single product






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






30. Takes the extractor's products or raw materials and changs the into a form that consumers can use






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






32. Personal selling - advertising - direct marketing - sales promotion - public relations - social media - postsales communications






33. Agreement to gradually eliminate tariffs and other trade barriers among the United States - Canada - and Mexico






34. Exclusive right to manufacture - sell or use a new invention - prevents someone from stealing and profiting from your invention






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






36. Strategies developed and implemented by managers in marketing - operations - human resources - finance - and other departments






37. A period where demand begins to decrease - businesses lower production of goods and services - unemployment begins to rise - and GDP growth slows for two or more quarters






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






39. Hybrid of a publicly held corporation and a partnership in which owners are taxed as partners but enjoy the benefits of limited liability






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






41. ____ help focus attention on what is important and are broader statements than objectives. More quantitative the ____ - the more likely its achievement is to receive attention and less likely it is to be distorted. The end or outcome to be accomplis






42. Method of combining geographical data with demographic data to develop profiles of neighborhood segments






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






44. The way you live as measure by the kinds and quality of goods and services you can afford






45. The combined use of tactical and strategic management






46. Gathering of media representatives at which companies announce new information; also called a press conference or press briefing






47. Brands owned by the manufacturers and distributed nationally






48. Customer value created when someone takes ownership of a product






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






50. Reporting relationships within a company