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. An action is morally correct - when - among the people it affects...






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






3. Changing jobs or tasks from time to time






4. Larger visual and multimedia ads that appear on websites






5. 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






6. Transferring work to another country






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






8. Total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located






9. Measure of a firm's short-term liquidity - calculated by divided current assets by current liabilities






10. Sales promotion aimed at final consumers






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






12. People are internally motivated






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






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






15. Hybrid of a closely held corporation and a partnership - organized and operated like a corporation but treated as a partnership for tax purposes






16. Media: discounts - coupons - rebates; audience: targeted; intensity: passive; purpose: persuade






17. Business that is legally considered an entity separate from its owners and is liable for its own debts; owners' liabilities extend to the limits of their investments






18. Making a product available at a convenient time






19. Discount offered by producers to wholesalers and retailers






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






21. Compensation other than wages and salaries






22. Amounts that are currently due to a company






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






24. A leadership style where the manager is directive and controlling






25. Business costs that increase with the number of units produced






26. 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






27. Good or service used as the basis of commerce






28. Personal communication between a seller and one or more potential buyers






29. Brands that have been given legal protection so that their owners have exclusive rights to their use






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






31. A sustained increase in the general level of prices






32. Process through which a manager allocates work to subordinates






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






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






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






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






37. Positive reinforcement - negative reinforcement - punishment






38. A ____ is an agreement between two parties to carry out a transaction - such as the sale of goods from a seller to buyer.






39. Accounting procedure for systematically spreading the cost of a tangible asset over its estimated useful life






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






41. Agreement to gradually eliminate tariffs and other trade barriers among the United States - Canada - and Mexico






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






43. Process for evaluating proposed investments in select projects that provide the best long-term financial return






44. Stems from personal trust and respect members have for the leader






45. Delegating more power to employees






46. Way of recording financial transactions that requires two entries for every transaction so that the accounting equation is always kept in balance






47. Using relative information to predict how many jobs will be needed






48. Business with two or more owners who share in both the operation of the firm and the financial responsibility for its debts






49. A phase of the business cycle when most people who want to work are working and businesses produce goods and services in record numbers






50. Paid - nonpersonal communication to a target market from an identified sponsor using mass communications channels