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. Products characterized by a plain label - with no advertising and no brand name






2. Activities producing tangible products such as radios - newspapers - buses and textbooks






3. Process of converting government enterprises into privately owned companies






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






5. 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






6. Positive reinforcement - negative reinforcement - punishment






7. Private funds - partners/shareholders - bank loans - asset leasing and hire purchase - venture capital/business angels - merger capital - retained profits






8. Broad set of organizational plans for implementing the decisions made for achieving organizational goals






9. A statement of what is to be accomplished that is expressed in singular - specific - and measurable terms with a target date






10. Roles of shareholders - directors - and other managers in corporate decision making and accountability






11. Manager responsible for supervising the work of employees






12. Changing jobs or tasks from time to time






13. Classification of customers on the basis of their psychological makeup - interests - and lifestyles






14. People are internally motivated






15. ____ 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






16. An increase in liabilities






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






18. Elimination of rules that restrict business activity






19. Codified rules of behavior enforced by society






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






21. Industry in which one company can most efficiently supply all needed goods or services






22. Gathering of media representatives at which companies announce new information; also called a press conference or press briefing






23. Arises when group members recognize that the leader has special expertise in the area






24. Acquiring funds through borrowing






25. 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






26. Strategy - at the business-unit or product-line level - focusing on improving a firm's competitive position






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






28. Process by which the world is becoming a single interdependent system






29. Advertising sent directly to potential customers - usually through the mail






30. Tension that exists when a person's beliefs don't match his or her behaviors: a common example is buyer's remorse - when someone regrets a purchase immediately after making it






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

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


32. A business that is involvec with moving goods from producers to consumers






33. Measure how well a company is managing assets; two types inventory turnover and accounts receivable turnover






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






35. Government agency charged with assisting small businesses - a govt agency that helps small business owners develop business plan and obtain financing and other support for their companies






36. In a ____ authority originates at the top and moves downward in a line.






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






38. Senior company managers who serve on the company's board of directors are known as ____.






39. Sales-promotion efforts aimed at inducing distributors or retails to push a producer's products






40. The combined use of tactical and strategic management






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






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






43. Form - time - place - possession






44. The level of joblessness among people actively seeking work in an economic system






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






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






47. Leaders need vision that is realistic and feasible. The strategic vision should be clear - cohesive - consistent and flexible. Includes analysis of the agency's internal and external environments (strengths - weaknesses - opportunities - and thr






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






49. Because production occurs continuously throughout the year - the 3-M company can best be described as using ____.






50. Hybrid of a publicly held corporation and a partnership in which owners are taxed as partners but enjoy the benefits of limited liability