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Test your basic knowledge |
Business Fundamentals
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Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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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. Current assets minus current liabilities
Business Plan
working capital
social media approach
brand extension
2. Study of statistical characteristics of a population
Imperfect Competition
demographics
personal sales approach
Corporate Bond
3. Advertising sent directly to potential customers - usually through the mail
marketable securities
Short-Term Goal
product
direct mail
4. Measures of the extent to which a business is financed by debt as opposed to invested capital - calculated by dividing the company's total liabilities by owners' equity
steps in the strategic marketing planning process
debt-to-equity ratio
word of mouth
Theory Z
5. The company founder is no longer solely responsible for all decision making during the ____.
return on equity ratio
debt financing
growth through direction state
skim pricing
6. Payments other than wages or salaries - other benefits
Three reasons nations trade
debt financing
Standard of living
fringe benefit
7. Statement of a firm's financial position on a particular date; also known as a statement of financial position
schematic of marketing process
balance sheet
S Corporation
product life cycle
8. Process of converting government enterprises into privately owned companies
forecasting
Privatization
inventory turnover ratio
Custom Manufacturing
9. Using relative information to predict how many jobs will be needed
Corporation
forecasting
Manufacturer
corporate strategies
10. Partner who actively manages a firm and who has unlimited liability for its debts
Management Information System (MIS)
General (Active) Partner
Corporate Strategy
First-Line Manager
11. Process through which a manager allocates work to subordinates
Delegation
marketing concept
news release
Crisis Management
12. In bookkeeping - an increase in assets
Chief Executive Officer (CEO)
credit
news conference
Insider Trading
13. Wide variety of persuasive techniques used by companies to communicate with their target markets and the general public
promotion
distribution channels
5 C's
Quality
14. Objective that a business hopes and plans to achieve
Goal
Operations (Production) Management
Audit
growth strategies
15. Hybrid of a closely held corporation and a partnership - organized and operated like a corporation but treated as a partnership for tax purposes
forecasting
S Corporation
General (Active) Partner
Reward Influence
16. This level of management includes department heads and district sales managers.
middle management
debt-to-equity ratio
behavioral segmentation
statement of cash flows
17. Business owned and usually operated by one person who is responsible for all its debts
factors that influence pricing decisions
Procedure
Collusion
Sole Proprietership
18. Free or bargain-priced items offered to encourage customers to buy a product
a continuous-flow operating system
Inflation
premiums
word of mouth
19. 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
laissez-faire Leadership style
Safety
Corporation
Limited Liability
20. Independent and well informed buyers and sellers of the exact same product (farmers markets)
Pure Competition
empowerment
Marketer
function of labels
21. Planning and control tool that reflects expected revenues - operating expenses - and cash receipts and outlays
budget
growth stage
Convenience Good/Convenience Service
inside board members
22. Selling or supporting the sales process over the telephone
geographics
Human Resource Management (HRM)
telemarketing
Manufacturer
23. A prolonged and deep recession
Depression
vertical analysis
Sarbanes-Oxley Act of 2002 (Sarbox)
Supply
24. Online ads that are linked to search engine results or website content
relationship marketing
Short-range or operational planning
search advertising
Workplace Diversity
25. The process of changing an organization's structure - Has a small negative effect on task performance. - Has a more significant negative effect on organizational commitment.
Market
co-branding
Monopoly
Restructuring
26. Bar codes on product packages that provide information read by optical scanners
Universal Product Codes
function of packaging
Sexual Harassment
Copyright
27. The total quantity and quality of goods and services people can purchase with the currency used in their economic system
Oligopoly
types of financial ratios
Management Information System (MIS)
Standard of living
28. Assets = liabilities + owner's equity
Private enterprise
accounting equation
social media approach
Retrenchment
29. Power of a good or services to satisfy a human need
positive reinforcement
cost of goods sold
news release
utility
30. Management process of determining how to best arrange an organization's resources and activities into a coherent structure
assume that all workers are content with their work
Recession
brand loyalty
Organizing
31. A focus on developing and maintaining long-term relationships with customers - suppliers - and distribution partners for mutual benefit
relationship marketing
Inflation
Benefits
Decision-Making Skills
32. Obligation employees have to their manager for the successful completion of an assigned task
owner's equity
geodemographics
Accountability
limitations of marketing research
33. Personal communication between a seller and one or more potential buyers
personal selling
sales promotion approach
Monopolistic competition
Prime Rate
34. Physical products purchased by companies to produce other products
Universal Product Codes
Industrial Goods
Oligopoly
Acquisition
35. Amounts that are currently due to a company
accounts receivable
fixed assets
Ethics
stages in the life cycle of a product
36. Can't have higher level - or class without the lower level; physiological needs - safety needs - feeling of love and belonging - esteem needs - self-actualization
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37. Informal communication between customers and potential customers
inside board members
news release
merger
word of mouth
38. Computer system that supports managers by providing information- reports - schedules - plans and budgets- that can be used for making decisions
Management Information System (MIS)
Sarbanes-Oxley Act of 2002 (Sarbox)
break-even point equation
Management
39. Employee who detects and tries to put an end to a company's unethical - illegal - or socially irresponsible actions by publicizing them
owner's equity equation
accounts payable
Whistle Blower
Swot Analysis
40. Codified rules of behavior enforced by society
Work Specialization
Laws
financial management
equity financing
41. Sales-promotion efforts aimed at inducing distributors or retails to push a producer's products
Wholesaler
Autocratic Leadership style
trade promotions
Corporate Bond
42. Systematic examination of a company's accounting system to determine whether its financial reports reliably represent its operations
it produces the greatest amount of good for the greatest number
Audit
Consumer Goods
Goods Operations (Goods Production)
43. 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
Variance
Board of Directors
theory x
levels of brand loyalty
44. Within an organization essentially answers the question 'Who reports to whom?' - Specific flow of authority down through the levels of an organization's structure.
liquidity ratios
Ethics
Chain of Command
debt-to-total-assets ratio
45. Strategic alliance in which the collaboration involves joint ownership of the new venture
cost of goods sold
debt-to-total-assets ratio
Joint Venture
Benefits
46. Behavior that does not conform to generally accepted social norms concerning beneficial and harmful actions
Price Fixing
Organization Chart
Unethical Behavior
break-even point equation
47. Strategu for determining a firm's overall attitude toward growth and the way it will manage its business or product lines
Corporate Strategy
theory x
Consumer Goods
cause-related marketing
48. Power to make the decisions necessary to complete a task
Authority
assets equation
fiscal year
Democratic Leadership Style
49. Measures income earned on owners' investment - formula: Net income/total owners' equity
return on equity ratio
long-term liabilities
5 C's
Three reasons nations trade
50. Legal principal holding investors liable for a firm's debts only to the limits of their personal investments in it
inventory turnover ratio
a continuous-flow operating system
Limited Liability
Outsourcing
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