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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. Employee who detects and tries to put an end to a company's unethical - illegal - or socially irresponsible actions by publicizing them
Substitute Product
Whistle Blower
Acquisition
demographics
2. Any 12 consecutive months used as an accounting period
Audit
fiscal year
certain disabilities and illnesses
it produces the greatest amount of good for the greatest number
3. Measure of a firm's ability to carry long-term debt - calculated by divided total liabilities by total assets
Unemployment
cost of goods sold equation
debt-to-total-assets ratio
cognitive dissonance
4. Profit earned or loss incurred by a firm - determined by subtracting expenses from revenues; also called the bottom line
Flat Organizational Structure
Human Resource Management (HRM)
Reward Influence
net income
5. Media: networks - audience: potential buyers - intensity: passive/active - purpose: inform - persuade - remind
Capitalism
social media approach
discount pricing
Monopolistic competition
6. Single year; A method of financial statement analysis in which each entry for each of the three major categories of accounts (assets - liabilities and equities) in a balance sheet is represented as a proportion of the total account; income statement
Depression
vertical analysis
Labor Union
permission marketing
7. Sales-promotion efforts aimed at inducing distributors or retails to push a producer's products
specialty advertising
Whistle Blower
trade promotions
Authority
8. Accounting method in which revenue is recorded when a sale is made and expense is recorded when it is incurred
empowerment
accrual basis
Custom Manufacturing
Universal Product Codes
9. The quantity of a good that an average worker can produce in an hour
national brands
Labor Productivity
Monopolistic Competition
cause-related marketing
10. Group of small investors who invest money in companies with rapid growth potential
Venture Capital Company
demographics
Consumer Goods
organization behavior modification
11. A group of customer who need or want a particular product and have the money to buy it
Tall Organizational Structure
statement of cash flows
Service Business
market
12. Offering several products for a single price that is presumably lower than the total of the products' individual prices
place marketing
owner's equity
market segmentation
bundling
13. Where products are conveniently placed for customers
place utility
types of financial ratios
Privatization
limitations of marketing research
14. External statistical descriptors such as age - income - gender - and profession
Crisis Management
demographics
market
price based pricing
15. Organization through which member nations negotiate trading agreements and resolve disputes about trade policies and practices
Workplace Diversity
Import
Monopolistic Competition
World Trade Organization (WTO)
16. Extends 3 to 5 years into the future. Begins with in-depth analysis of internal environment's strengths and weaknesses. Reviews external opportunities and threats so realistic goals can be set
distribution channels
Operations (Production) Management
Long-range or strategic planning
fixed costs
17. Promotional campaigns that send information only to those people who've specifically asked to receive it
balance sheet
Acquisition
permission marketing
permission-based marketing
18. Something that the employee dislikes is taken away
Organizational Stakeholders
debit
negative reinforcement
Real GDP
19. Electronic media that invite participation by the general public
Multinational (or Transnational) Corporation
market segmentation
social media
Chain of Command
20. Portion of a brand that can be expressed orally - including letters - words - or numbers
demographics
brand names
Imperfect Competition
organizational market
21. Online ads that are linked to search engine results or website content
Flat Organizational Structure
premiums
search advertising
market share
22. 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
SWOT analysis
theory y
equity financing
ratio analysis
23. Accounting procedure for systematically spreading the cost of a tangible asset over its estimated useful life
Restructuring
Substitute Product
depreciation
Stockholder (or Shareholder)
24. 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
depreciation
vertical analysis
specialty advertising
permission-based marketing
25. Organization in which a great deal of decision-making authority is delegated to levels of management at points below the top
Corporation
Swot Analysis
Business Ethics
Decentralized Organization
26. Cash and items that can be turned into cash within one year
current assets
Whistle Blower
market segmentation
bundling
27. A Theory Y manager is most likely to ____.
promotional strategy
assume that all workers are content with their work
line organization
telemarketing
28. Partnership between two or more companies to closely link their brand names together for a single product
relationship marketing
co-branding
Leadership
sales promotion approach
29. Management process of determining what an organization needs to do and how best to get it done
Supply Chain (Value Chain)
Planning
cost of goods sold
relationship marketing
30. Takes the extractor's products or raw materials and changs the into a form that consumers can use
Manufacturer
long-term liabilities
types of utility
current ratio
31. Process of dealing with employees who are represented by a union
debt-to-equity ratio
institutional advertising
Recession
Labor Relations
32. Personal selling - advertising - direct marketing - sales promotion - public relations - social media - postsales communications
Leadership
categories of customer communication
break-even analysis
return on sales
33. Agreement to gradually eliminate tariffs and other trade barriers among the United States - Canada - and Mexico
North American Free Trade Agreement (NAFTA)
owner's equity
Corporation
product mix
34. Exclusive right to manufacture - sell or use a new invention - prevents someone from stealing and profiting from your invention
Patent
Venture Capital Company
stages in the life cycle of a product
Audit
35. A period during which aggregate output - as measured by GDP - declines
Work Specialization
integrated marketing communications
Recession
vertical analysis
36. Strategies developed and implemented by managers in marketing - operations - human resources - finance - and other departments
Socialism
growth through direction state
revenues
functional strategies
37. A period where demand begins to decrease - businesses lower production of goods and services - unemployment begins to rise - and GDP growth slows for two or more quarters
inside board members
SWOT analysis
marketing
Recession
38. This level of management includes department heads and district sales managers.
positive reinforcement
depreciation
middle management
Swot Analysis
39. Hybrid of a publicly held corporation and a partnership in which owners are taxed as partners but enjoy the benefits of limited liability
vertical analysis
Limited Liability Corporation (LLC)
penetration pricing
current ratio
40. The movement of an economy from one condition to another and back again
time utility
Affirmative Action
Business Cycle
Physical Distribution
41. ____ help focus attention on what is important and are broader statements than objectives. More quantitative the ____ - the more likely its achievement is to receive attention and less likely it is to be distorted. The end or outcome to be accomplis
fixed costs
Goals
credit
psychographics
42. Method of combining geographical data with demographic data to develop profiles of neighborhood segments
Affirmative Action
Centralized Organization
types of financial ratios
geodemographics
43. Partner who actively manages a firm and who has unlimited liability for its debts
brand loyalty
General (Active) Partner
owner's equity
financial control
44. The way you live as measure by the kinds and quality of goods and services you can afford
Franchise
Standard of Living
revenues
Information Technology (IT)
45. The combined use of tactical and strategic management
return on equity ratio
media
Mixed Management
theory y
46. Gathering of media representatives at which companies announce new information; also called a press conference or press briefing
Ethical Behavior
news conference
ways to expand a product line
permission marketing
47. Brands owned by the manufacturers and distributed nationally
Contingent Worker
transaction
national brands
Outsourcing
48. Customer value created when someone takes ownership of a product
customer loyalty
Swot Analysis
possession utility
Monopoly
49. Power of a good or services to satisfy a human need
activity ratios
Imperfect Competition
utility
Recovery
50. Reporting relationships within a company
Monopoly
Chain of Command
premiums
Recession