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






2. Management process of determining how to best arrange an organization's resources and activities into a coherent structure






3. Assets = liabilities + owner's equity






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






5. The price of your nation's currency is in terms of another nation's currency






6. Start with the cost of producing a good or a service and then add a markup to the cost of the product to produce a product






7. Form of a corporation spanning national boundaries






8. When a task is too time consuming for a manager to handle alone - he or she may ____.






9. A sustained increase in the general level of prices






10. The value that a company has built up in a brand






11. 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






12. Use a brand name on a variety of related products






13. Manufacturing and selling costs - competition - the needs of wholesalers and retailers who distribute the product to the final customer - the firm's marketing objectives - government regulations - quality perceptions - and customer demand






14. Current assets minus current liabilities






15. Product made or grown abroad but sold domestically






16. Under the Americans with Disabilities Act - companies cannot fire or refuse to hire people because of...






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






18. Deliver quality products - and provide effective customer service; keeps customers satisfied and helps retain long-term loyalty






19. Promotional strategy that stimulates consumer demand - which then exerts pressure on wholesalers and retailers to carry a product






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






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






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






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






24. A business firm that does things for you instead of making or makerting products






25. The state of being certain that adverse effects will not be caused by some agent under defined conditions






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






27. Partner who actively manages a firm and who has unlimited liability for its debts






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






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






30. Product made or grown domestically but sold abroad






31. Approach to business management that stresses customer needs and wants - seeks long-term profitability - and integrates marketing with other functional units within the organization






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






33. Effective acquisition and use of money






34. Marketers focus on stimulating demand for the new product






35. 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






36. People are internally motivated






37. Agreement to produce and market another company's product in exchange for a royalty or fee






38. Goal set for an extended time - typically 5 years or more in the future






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






40. Behavior exhibited by consumers as they consider - select - and purchase goods and services






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






42. Stocks - bonds - and other investments that can be turned into cash quickly






43. Accounting method in which revenue is recorded when a sale is made and expense is recorded when it is incurred






44. Lots of leeway to workers to meet goals






45. A period during which aggregate output - as measured by GDP - declines






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






47. A detailed series of related steps or tasks written to implement a policy is called a ____.






48. Occurs when two companies form one corporation






49. Is the way in which tasks in an organization are divided into separate jobs. - Also known as division of labor - Assembly line worker.






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