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






2. Measure how well a company is managing assets; two types inventory turnover and accounts receivable turnover






3. The ability to carry out a task






4. Under the Americans with Disabilities Act - companies cannot fire or refuse to hire people because of...






5. Gross domestic product (GDP) adjusted to account for changes in currency values and price changes






6. Process of planning and executing the conception - pricing - promotion - and distribution of ideas - goods - and services to create and maintain relationships






7. The union of two corporations to form a new corporation






8. The act of transferring net revenue and expense account balances to retained earnings for the period






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






10. A detailed series of related steps or tasks written to implement a policy is called a ____.






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






12. Process by which the world is becoming a single interdependent system






13. A statement of what is to be accomplished that is expressed in singular - specific - and measurable terms with a target date






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






15. Marketing efforts to attract people and organizations to a particular geographical area






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






17. Study of statistical characteristics of a population






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






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






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






21. Customer value added by making a product available in a convenient location






22. Activities producing tangible products such as radios - newspapers - buses and textbooks






23. Obligations that must be next within a year






24. 12 month accounting period that begins on January 1 and ends on December 31






25. Selling or supporting the sales process over the telephone






26. All costs of operation that are not included under cost of goods sold






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






28. Behavior exhibited by consumers as they consider - select - and purchase goods and services






29. Compensation other than wages and salaries






30. 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






31. The ability to get others to accoplish tasks because of the position the leader holds






32. Electronic media that invite participation by the general public






33. The various appliances and devices for creating - storing - exchanging - and using information in diverse modes - including visual images - voice - multimedia - and business data






34. Positive reinforcement - negative reinforcement - punishment






35. Businesses - nonprofit organizations - and government agencies that purchase goods and services for use in their operations






36. Difference of revenues - costs - and profit from the planned amounts.






37. Non-fluctuating rate that banks use to offer short-term loans of high dollar amounts made up of several interest rates






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






39. Mechanism for exchange between buyers and sellers of a particular good or service






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






41. Customer value added by making a product available at a convenient time






42. Demographics - psychographics - and geographics






43. Economic system that allows individuals to pursue their own interests without undue governmental restriction






44. Delegating more power to employees






45. Mix of people in organizations in terms of essential/demographic status






46. 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






47. Is a drawing that represents every job in the organization and the formal reporting relationships between those jobs.






48. Costs created in the process of generating revenues






49. The process of analyzing and adjusting the basic financial plan to correct for forecasted events that do not materialize






50. Beliefs about what is right or wrong and good or bad in actions that affect others