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. Start with the cost of producing a good or a service and then add a markup to the cost of the product to produce a product






2. Cost of producing or acquiring a company's products for sale during a given period






3. Markets focus on increasing the product's market share






4. Organization for economic - social - and security cooperation among European nations






5. Applying a successful brand name to a new product category






6. Four basic stage through which a product progresses: introduction - growth - maturity - and decline






7. Ethical or unethical behaviors by employees in the context of their jobs






8. Can't have higher level - or class without the lower level; physiological needs - safety needs - feeling of love and belonging - esteem needs - self-actualization

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


9. S- strengths W- weaknesses O- opportunities T- threats - strengths and weaknesses are internal factors of the company; opportunities and threats are external factors towards the company






10. Overall plan for marketing a product: includes the identification of target market segments - a positioning strategy - and a marketing mix






11. The process of changing an organization's structure - Has a small negative effect on task performance. - Has a more significant negative effect on organizational commitment.






12. Organization's statement of how it will achieve its purpose in the environment in which it conducts business






13. Measure of profitability calculated by divided net income after taxes by the average number of shares of common stock outstanding






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






15. The willingness and ability of buyers to purchase a good or service






16. Process of converting government enterprises into privately owned companies






17. Senior company managers who serve on the company's board of directors are known as ____.






18. Multiple year; compares two ratios in company's financial statements; sales - sales returns/allowance - net sales - gross marginal






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






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






21. Ratios that measure a firm's reliance on debt financing of its operations






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






23. Particular blend of personal selling - advertising - direct marketing - sales promotion - and public relations that a company uses to reach potential customers






24. Form of a corporation spanning national boundaries






25. Media: mail - telephone - internet - audience: target potential buyers - intensity: passive - purpose: persuade






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






27. Continually adjusting prices to reflect changes in supply and demand






28. Statement or document that defines the direction and scope of the promotional activities that a company will use to meet its marketing objectives






29. Cost-based pricing - price-based pricing - optimal pricing - skim pricing - penetration pricing - loss-leader pricing - auction pricing






30. Authority granted to committees or teams involved in a firm's daily operations






31. This law guards against false advertising.






32. Marketers focus on stimulating demand for the new product






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






34. Industry in which one company can most efficiently supply all needed goods or services






35. Tension that exists when a person's beliefs don't match his or her behaviors: a common example is buyer's remorse - when someone regrets a purchase immediately after making it






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






37. Compensation other than wages and salaries






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






39. Arises when group members recognize that the leader has special expertise in the area






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






41. Governing body of a corporation that reports to its shareholders and delegates power to run its day-to-day operations while remaining responsible for sustaining its assets






42. Vying among businesses for the same resources or customers






43. Delegating more power to employees






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






45. Developing and implementing a firm's financial plan - monitoring cash flow - decided how to create or use excess funds - budgeting for current and future expenditures - recommending specific investments - raising capital to finance the enterpris






46. Assets - liabilities = owner's equity

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


47. Manufacturing and selling costs - competition - the needs of wholesalers and retailers who distribute the product to the final customer - the firm's marketing objectives - government regulations - quality perceptions - and customer demand






48. Portion of a company's assets that belongs to the owners after obligations to all creditors have been met

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


49. Introductory stage - growth stage - maturity stage - decline stage






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