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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. 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
owner's equity equation
Affirmative Action
Marketer
direct marketing approach
2. Stems from personal trust and respect members have for the leader
risks of product-line extensions
Identity Influence
Outcome-based ethics
place utility
3. A phase marked by a prolonged period of high unemployment - weak sales of goods and services - and business failure
Mass Production
marketing mix
Joint Venture
Depression
4. The degree to which customers continue to purchase a specific brand
brand loyalty
cause-related marketing
Mass Production
close the books
5. Advertising that tries to sell specific goods or services - generally by describing features - benefits - and occasionally - price
product advertising
Custom Manufacturing
Deregulation
stages of product development
6. Manager responsible for a firm's overall performance and effectiveness
net income
Top Manager
time utility
Policy
7. Somethings needed by a community and provided by its government
Outcome-based ethics
cost of goods sold
Public Goods
permission marketing
8. Media: mail - telephone - internet - audience: target potential buyers - intensity: passive - purpose: persuade
Corporate Bond
maturity stage
direct marketing approach
accounting equation
9. Strategy in which two or more organizations collaborate on a project for mutual gain
product line
Strategic Alliance
financial plan
Sexual Harassment
10. A statement of what is to be accomplished that is expressed in singular - specific - and measurable terms with a target date
Top Manager
Convenience Good/Convenience Service
persuasive advertising
objectives
11. Total value of all goods and services produced within a given period by a national economy through domestic factors of production
Short-Term Goal
pull strategy
Gross Domestic Product (GDP)
contract
12. The creation and sharing of product-related information among customers and potential customers
public relations approach
organization behavior modification
social commerce
market segmentation
13. The willingness and ability of producers to offer a good or service for sale
Supply
Quid Pro Quo Harassment
Retailer
depreciation
14. Something produced by the intellect or mind that has commercial value
Intellectual Property
grand strategies
Workplace Diversity
Corporate Governance
15. Activities producing tangible products such as radios - newspapers - buses and textbooks
Human Resource Management (HRM)
Goods Operations (Goods Production)
accounts payable
Labor Productivity
16. Form of a corporation spanning national boundaries
Multinational (or Transnational) Corporation
equity financing
premiums
accounting equation
17. An overall corporate strategy for growth - stability - or turnaround and retrenchment - or for some combination of these
it produces the greatest amount of good for the greatest number
grand strategies
Retrenchment
marketing
18. Systems for moving goods and services from producers to customers; also known as marketing channels
debt financing
relationship marketing
vertical analysis
distribution channels
19. Management process of guiding and motivating employees to meet an organization's objectives
debt-to-equity ratio
liabilities
line organization
Leading
20. Rewarded for good performance; something the employee likes is praised
Convenience Good/Convenience Service
Competition
positive reinforcement
Recovery
21. The activity - set of institutions - and process for creating - communicating - delivering - and enhancing offerings that have value for customers - clients - partners - and society at large
authority
Marketing
loss-leader pricing
Nepotism
22. Enactment of federal regulations to restore public trust in accounting practices by imposing new requirements on financial activities in publicly traded corporations
financial management
schematic of marketing process
Sarbanes-Oxley Act of 2002 (Sarbox)
3 Economic Role
23. Ratios that measure the overall financial performance of a firm- include return on sales - return on investment - and earnings per share
telemarketing
profitability ratios
Small Business Administration (SBA)
stealth marketing
24. Skills in defining problems and selecting the best courses of action
North American Free Trade Agreement (NAFTA)
Wholesaler
General Partnership
Decision-Making Skills
25. Effective acquisition and use of money
financial management
line organization
customer loyalty
coupons
26. A large number of identical products are assembled using a continuous - efficient procedure
Laws
Copyright
Mass Production
categories of customer communication
27. Form of nonstore retailing in which the telephone is used to sell directly to consumers
close the books
assets
Telemarketing
gross profit
28. Exchange of value between parties
Retrenchment
transaction
brand extension
direct marketing approach
29. Physical products purchased by companies to produce other products
Specialty Good/Specialty Service
Industrial Goods
marketing research
brand extension
30. Elimination of rules that restrict business activity
Deregulation
auction
personal sales approach
Standard of Living
31. The way you live as measure by the kinds and quality of goods and services you can afford
current assets
liabilities
levels of brand loyalty
Standard of Living
32. Help identify and distinguish the product - provide information about the product such as ingredients - shelf life - operating procedures - and UPC codes which are used for scanning sales information and monitoring inventory and pricing
function of labels
Telemarketing
Import
break-even analysis
33. Law created by consistitution(s) or by federal - state - or local legislative acts
Depression
horizontal analysis
Statutory Law
search advertising
34. Planning and control tool that reflects expected revenues - operating expenses - and cash receipts and outlays
Oligopoly
trademarks
budget
Supply Chain (Value Chain)
35. Process of planning - organizing - leading and controlling an organization's resources to achieve its goals
Restructuring
function of labels
Management
First-Line Manager
36. Mix of people in organizations in terms of essential/demographic status
net income
Philosophy
Workplace Diversity
media
37. Introductory stage - growth stage - maturity stage - decline stage
functional strategies
Benefits
stages in the life cycle of a product
Collusion
38. Management theory incorporating Japanese emphasis on collective decision making and concern for employees with American emphasis on individual responsibility is ____.
Strategic Management
downsizing
cost based pricing
Theory Z
39. Characteristic of decentralized companies with relatively few layers of management
general expenses
profitability ratios
Flat Organizational Structure
possession utility
40. Senior company managers who serve on the company's board of directors are known as ____.
inside board members
form utility
demographics
Work Specialization
41. A form of collusion - agree to charge the same prices - usually higher than the price set by competition
Price Fixing
stages in the life cycle of a product
cash basis
assume that all workers are content with their work
42. 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
Deregulation
liquidity ratios
Oligopoly
earnings per share
43. External statistical descriptors such as age - income - gender - and profession
demographics
news conference
Convenience Good/Convenience Service
Marketer
44. Leaders need vision that is realistic and feasible. The strategic vision should be clear - cohesive - consistent and flexible. Includes analysis of the agency's internal and external environments (strengths - weaknesses - opportunities - and thr
Purpose of Strategic Planning
Mass Production
Pure Competition
theory x
45. By making changes in policies or resolving conflicts in the workplace - a manager is working within his or her ____.
current liabilities
Span of Control
decision-making role
Telemarketing
46. Process through which a manager allocates work to subordinates
Delegation
types of utility
Certificate of Incorporation
budget
47. Multiple year; compares two ratios in company's financial statements; sales - sales returns/allowance - net sales - gross marginal
online display advertising
SWOT analysis
Limited Partner
horizontal analysis
48. 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
ratio analysis
Retrenchment
inside board members
wants
49. Complete list of all products that a company offers for sale
private brands
product mix
retained earnings
Accountability
50. Measure of profitability calculated by divided net income after taxes by the average number of shares of common stock outstanding
levels of brand loyalty
earnings per share
price based pricing
license