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. 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






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






3. Money paid to acquire something of permanent value in a business






4. Systems for moving goods and services from producers to customers; also known as marketing channels






5. Manager responsible for implementing the strategies and working toward the goals set by top managers






6. Delegating more power to employees






7. Developing and implementing a firm's financial plan - monitoring cash flow - decided how to create or use excess funds - budgeting for current and future expenditures - recommending specific investments - raising capital to finance the enterpris






8. Online ads that are linked to search engine results or website content






9. Overall plan for marketing a product: includes the identification of target market segments - a positioning strategy - and a marketing mix






10. Internal descriptors such as attitudes - interests - values - behaviors - and habits






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






12. 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






13. Document in which an entrepreneur summarizes his or her business strategy for a proposed new venture and how that strategy will be implemented






14. Marketing approach in which firms first ask permission to deliver messages to an audience and then promise to restrict their communication efforts to those subject areas in which audience members have expressed interest






15. Governing body of a corporation that reports to its shareholders and delegates power to run its day-to-day operations while remaining responsible for sustaining its assets






16. Changes the form of material so they can be consumed or used to manufacture other products






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






18. Location






19. Exchange of value between parties






20. Advertising designed to encourage customers to try new products or to switch brands






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






22. Market structure that does not meet all conditions of perfect competition - three catagories: monopolistic - oligopoly & monopoly






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






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






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






26. Bar codes on product packages that provide information read by optical scanners






27. Measure of the time a company takes to turn its inventory into sales - calculated by divided cost of goods sold by the average value of inventory for a period






28. Reporting relationships within a company






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






30. A short - specific written statement of the reason a business exists and what it wants to achieve.






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






32. Within an organization essentially answers the question 'Who reports to whom?' - Specific flow of authority down through the levels of an organization's structure.






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






34. Specific customer groups or segments to whom a company wants to sell a particular product






35. From of sexual harassment deriving from off-color jokes - lewd comments - and so forth






36. Promotional campaigns that send information only to those people who've specifically asked to receive it






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






38. A large number of identical products are assembled using a continuous - efficient procedure






39. Strategu for determining a firm's overall attitude toward growth and the way it will manage its business or product lines






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






41. The ability to carry out a task






42. Strategies that deal with the most important aspects of the company's operations and provide overall direction for the company are known as ____.






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






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






45. System that sanctions the private ownership of the factors of production and encourages entrepreneurship by offering profits as an incentive






46. Loss of brand identity and the cannibalization of sales of other products in the product line






47. Compensation other than wages and salaries






48. When the seller doesn't set a firm price but allows buyers to competitively bid on the products being sold






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






50. Motivator and hygiene factors need to be met to prevent dissatisfaction

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183