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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. Management theory incorporating Japanese emphasis on collective decision making and concern for employees with American emphasis on individual responsibility is ____.






2. Legal principal holding owners responsible for paying off all debts of a business






3. Illegal practice of using special knowledge about a firm for profit or gain






4. Assets = liabilities + owner's equity






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






6. Body of decisions handed down by courts ruling on individual cases






7. Process of scanning the business environment for threats and opportunities






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






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






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






11. Government agency charged with assisting small businesses - a govt agency that helps small business owners develop business plan and obtain financing and other support for their companies






12. profitability - liquidity - activities - and leverage/debt






13. By making changes in policies or resolving conflicts in the workplace - a manager is working within his or her ____.






14. Unwelcome sexual advances in the workplace






15. Stocks - bonds - and other investments that can be turned into cash quickly






16. Somethings needed by a community and provided by its government






17. In a ____ authority originates at the top and moves downward in a line.






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






19. Process of building - maintaining - and using customer databases for the purpose of contacting customers and transacting business






20. Formal agreement to set prices. Sometimes illegal - but is typically secretive






21. Amounts that are currently due to a company






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






23. A form of collusion - agree to charge the same prices - usually higher than the price set by competition






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






25. Categorization of customers according to their relationship with products or response to product characteristics






26. 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






27. Method of calculating the minimum volume of sales needed at a given price to cover all costs






28. Refers to policies that take factors including 'race - color - religion - gender - sexual orientation or national origin' into consideration in order to benefit an underrepresented group - usually as a means to counter the effects of a history o






29. Document in which an entrepreneur summarizes his or her business strategy for a proposed new venture and how that strategy will be implemented






30. Objective that a business hopes and plans to achieve






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






32. A series of related products offered by a firm






33. Transferring work to another country






34. Where products are conveniently placed for customers






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






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






37. Ratios that measure the overall financial performance of a firm- include return on sales - return on investment - and earnings per share






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






39. Assets - liabilities = owner's equity

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40. Certificates that offer discounts on particular items and are redeemed at the time of purchase






41. Measure of a firm's short-term liquidity - calculated by divided current assets by current liabilities






42. Roles of shareholders - directors - and other managers in corporate decision making and accountability






43. Large-scale production and distribution of a product






44. Private funds - partners/shareholders - bank loans - asset leasing and hire purchase - venture capital/business angels - merger capital - retained profits






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






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






47. One seller of a product - denies people competition and is against the law (They can typically raise prices)






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






49. The company founder is no longer solely responsible for all decision making during the ____.






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







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Can you answer 50 questions in 15 minutes?


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