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. Brand awareness - brand preference - brand insistence






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






3. Very few large firms dominate the market such as coke - pepsi - GM - McDonalds






4. Statement of a firm's financial position on a particular date; also known as a statement of financial position






5. ____ strategy is a plan to reverse negative trends in a company - such as the losses in sales.






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






7. A period where demand begins to decrease - businesses lower production of goods and services - unemployment begins to rise - and GDP growth slows for two or more quarters






8. Costs created in the process of generating revenues






9. Type of partnership consisting of limited partners and a general (or active) partner






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






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






12. Form of sexual harassment in which sexual favors are requested in return for job-related benefits






13. Particular blend of personal selling - advertising - direct marketing - sales promotion - and public relations that a company uses to reach potential customers






14. Measure of a firm's short-term liquidity - calculated by adding cash - marketable securities - and receivables - then divided that sum by current liabilities; also known as the acid-test ratio






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






16. Media: news release; audience: broad - intensity: passive - active; purpose: inform






17. 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






18. Economy in which individuals control production and allocation decisions through supply and demand






19. The marketer must decide whether to keep the product and reduce its costs to compensate for declining sales or to discontinue it






20. Delegating more power to employees






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






22. A forecast of financial requirements and the financing sources to be used






23. The degree to which customers continue to purchase a specific brand






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






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






26. Selling method in which the price is set by customers bidding against each other






27. Body of decisions handed down by courts ruling on individual cases






28. Ratios that measure the overall financial performance of a firm- include return on sales - return on investment - and earnings per share






29. Is a drawing that represents every job in the organization and the formal reporting relationships between those jobs.






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






32. Portion of a company's assets that belongs to the owners after obligations to all creditors have been met


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






34. Set of organizational activities directed at attracting - developing - and maintaining an effective workforce






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






36. Corporation whose stock is held by only a few people and is not available for sale to the general public






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






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






39. Marketers focus on stimulating demand for the new product






40. A Theory Y manager is most likely to ____.






41. A sustained increase in the general level of prices






42. Form of a corporation spanning national boundaries






43. Certificates that offer discounts on particular items and are redeemed at the time of purchase






44. Any 12 consecutive months used as an accounting period






45. Small groups in the same work area that have scheduled meetings about problems and how to fix them






46. Managers who develop and implement a complete strategy and marketing program for specific products or brands






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






48. Difference of revenues - costs - and profit from the planned amounts.






49. The willingness and ability of buyers to purchase a good or service






50. The movement of an economy from one condition to another and back again