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. Strategic alliance in which the collaboration involves joint ownership of the new venture






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






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






4. Results from the leader's ability to give or withhold rewards






5. A leadership style where managers are less directive and involved employees in decision making






6. Power to make the decisions necessary to complete a task






7. Legal principal holding investors liable for a firm's debts only to the limits of their personal investments in it






8. 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






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






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






11. 1. 5 C's (customer - company - competitors - collaborators - context) 2. market segmentation - selection of target market - product/service positioning 3. product attributes - pricing parts - promotion - placement 4. recruit customer - reta






12. Owner of shares of stock in a corporation






13. Obligations that fall due more than a year from the date of the balance sheet - Loans - leases - and bonds






14. Organization's methods for dealing with emergencies






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






16. Lots of leeway to workers to meet goals






17. A forecast of financial requirements and the financing sources to be used






18. Market or industry in which there is only one producer that can therefore set the prices on all of its products






19. Obligation employees have to their manager for the successful completion of an assigned task






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






21. Assets retained for long-term use - such as land - buildings - machinery - and equipment; also referred to as property - plant - and equipment






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






23. A focus on developing and maintaining long-term relationships with customers - suppliers - and distribution partners for mutual benefit






24. A name - term - sign - symbol - design or combination of those used to identify the products of a firm and competing products






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

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26. Individuals or households that buy goods and services for personal use






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






28. Goal set for the very near future






29. Are a more complex form of organizational design that tries to take advantage of two types of structures at the same time. - The matrix represents a combination of a functional structure and a product structure.






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






31. Charging a high price for a new product during the introductory stage and lowering the price later






32. Reporting relationships within a company






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






34. Form of a corporation spanning national boundaries






35. Statement of a firm's cash receipts and cash payments that presents information on its sources and uses of cash






36. The practice of paying suppliers and distributors to perform certain business processes or to provide needed materials or services






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






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






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

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40. Advertising that appears on various items such as coffee mugs - pens - and calendars - designed to help keep a company's name in front of customers






41. Set of organizational activities directed at attracting - developing - and maintaining an effective workforce






42. The way you live as measure by the kinds and quality of goods and services you can afford






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






44. Rewarded for good performance; something the employee likes is praised






45. A group of customer who need or want a particular product and have the money to buy it






46. Organization in which most decision-making authority is held by upper-level management






47. Physical products purchased by consumers for personal use






48. Something that the employee dislikes is taken away






49. Unwelcome sexual advances in the workplace






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