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. Media: tv - radio - internet - print; audience: broad - intensity: passive - purpose: inform - persuade






2. Promotional approach designed to motivate wholesalers and retailers to push a producer's products to end users






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






4. 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






5. Deliver quality products - and provide effective customer service; keeps customers satisfied and helps retain long-term loyalty






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






7. Marketers try to extend the life of the product by highlighting improvements or by repackaging the product in different sizes






8. Process of subdividing a market into homogeneous groups to identify potential customers and to devise marketing approaches geared to their needs and interests






9. A prolonged and deep recession






10. Effective acquisition and use of money






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






12. Sales volume at a given price that will cover all of a company's costs






13. Favoritism shown to relatives or close friends by those in power (as by giving them jobs)






14. Process of converting government enterprises into privately owned companies






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






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






17. The processes and behaviors used by someone - such as a manager - to motivate - inspire - and influence the behaviors of others






18. Managers who develop and implement a complete strategy and marketing program for specific products or brands






19. The portion of shareholders' equity earned by the company but not distributed to its owners in the form of dividends






20. Introducing a new product at a low price in hopes of building sales volume quickly






21. Systematic examination of a company's accounting system to determine whether its financial reports reliably represent its operations






22. A governing plan for accomplishing goals and objectives. Explain how goals will be achieved. Define the general course and scope of activities. Serve as basis for future decisions - actions and help coordinate plans. Control performance - increase






23. 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






24. Transferring work to another country






25. Measure of a firm's short-term liquidity - calculated by adding cash - marketable securities - and receivables - then divided that sum by current liabilities; also known as the acid-test ratio






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






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






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






29. Using promotion - product - distribution - and price to differentiate a good or service from those of competitors in the mind of the prospective buyer






30. Group of individuals working together to achieve shared job-related goals - such as higher pay - shorter working hours - more job security - greater benefits - or better working conditions






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






32. Degree to which customers continue to buy from a particular retailer or buy the products of a particular manufacturer or service provider






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






34. Intermediary who sells products to other businesses for resale to final consumers






35. Inexpensive good or service purchased and consumed rapidly and regularly






36. The purchase of one company by another






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






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






39. Larger visual and multimedia ads that appear on websites






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






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






42. Ratios that measure the effectiveness of the firm's use of its resources






43. Top manager who is responsible for the overall performance of a corporation






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






45. Advertising intended to remind existing customers of a product's availability and benefits






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






47. Type of partnership consisting of limited partners and a general (or active) partner






48. Arrangement in which a buyer (franchisee) purchases the right to sell the good or service of the seller (franchiser)






49. Introducing a new product at a low price in hopes of building sales volume quickly






50. In bookkeeping - an increase in assets