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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. Gross domestic product (GDP) adjusted to account for changes in currency values and price changes






2. Assets - liabilities = owner's equity

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3. Are a more complex form of organizational design that tries to take advantage of two types of structures at the same time. - The matrix represents a combination of a functional structure and a product structure.






4. The purchase of one company by another






5. Making a product available at a convenient time






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






7. The process of examining an organization's current marketing situation - assessing opportunities and setting objectives - then developing a marketing strategy to reach those objectives






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






9. Communications channels - such as newspapers - radio - and television






10. Occurs when widespread price increases occur throughout an economic system






11. Illegal practice of using special knowledge about a firm for profit or gain






12. Direct communication other than personal sales contacts designed to effect a measurable response






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

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






15. Study of statistical characteristics of a population






16. 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






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






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






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






20. A document - generally issued by a state government - giving permission to start a corporation






21. Organization's statement of how it will achieve its purpose in the environment in which it conducts business






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






23. Current assets minus current liabilities






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






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






26. Using promotion - product - distribution - and price to differentiate a good or service from those of competitors in the mind of the prospective buyer






27. Enactment of federal regulations to restore public trust in accounting practices by imposing new requirements on financial activities in publicly traded corporations






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






29. Computer system that supports managers by providing information- reports - schedules - plans and budgets- that can be used for making decisions






30. Measure of time a company takes to turn its accounts receivable into cash - calculated by divided sales by the average value of accounts receivable for a period






31. Physical products purchased by companies to produce other products






32. The collection and analysis of information for making marketing decisions






33. A measure of the sensitivity of demand to changes in price






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






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






36. Process of planning - organizing - leading and controlling an organization's resources to achieve its goals






37. Wide variety of persuasive techniques used by companies to communicate with their target markets and the general public






38. An overall corporate strategy for growth - stability - or turnaround and retrenchment - or for some combination of these






39. Independent and well informed buyers and sellers of the exact same product (farmers markets)






40. Advertising or other display materials set up at retail locations to promote products to potential customers as they are making their purchase decisions






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






42. Manager responsible for a firm's overall performance and effectiveness






43. Customer value added by making a product available in a convenient location






44. Planned economic system in which the government owns and operates only selected major sources of production






45. Something produced by the intellect or mind that has commercial value






46. Organization for economic - social - and security cooperation among European nations






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






48. Confusion results if a person reports to two people at once - according to ____.






49. Process through which a manager allocates work to subordinates






50. Objective that a business hopes and plans to achieve







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Can you answer 50 questions in 15 minutes?


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