SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
Business Fundamentals
Start Test
Study First
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. Way of recording financial transactions that requires two entries for every transaction so that the accounting equation is always kept in balance
fixed assets
Monopoly
double-entry bookkeeping
dynamic pricing
2. Demographics - psychographics - and geographics
primary factors of market segmentation
rebates
Goods Operations (Goods Production)
World Trade Organization (WTO)
3. Pricing selling one product at a loss as a way to entice customers to consider other products
Prosperity
loss-leader
Corporate Bond
Retailer
4. Offering a temporary reduction in price
Competition
Ethical Behavior
discount pricing
Marketing
5. A document - generally issued by a state government - giving permission to start a corporation
Limited Partner
current ratio
Certificate of Incorporation
Whistle Blower
6. The delivery of marketing messages to people who are not aware that they are being marketing to; these messages can be delivered by either acquaintances or strangers - depending on the technique
accounts receivable
stealth marketing
depreciation
theory x
7. Expensive - rarely purchased good or service
Specialty Good/Specialty Service
function of labels
cost of goods sold equation
Publicly Held (or Public) Corporation
8. Marketing efforts to attract people and organizations to a particular geographical area
Ethical Behavior
place marketing
depreciation
function of packaging
9. Goal set for an extended time - typically 5 years or more in the future
Long-Term Goal
Sexual Harassment
gross profit
budget
10. Management process of determining how to best arrange an organization's resources and activities into a coherent structure
Closely Held (or Private) Corporation
Operations (Production) Management
Ethical Behavior
Organizing
11. Difference between a person's actual state and his or her ideal state; provides the basic motivation to make a purchase
need
quick ratio
bundling
Demand
12. Owner of shares of stock in a corporation
Stockholder (or Shareholder)
break-even analysis
Business Cycle
schematic of marketing process
13. Is the way in which tasks in an organization are divided into separate jobs. - Also known as division of labor - Assembly line worker.
Tall Organizational Structure
fixed costs
Work Specialization
calendar year
14. Motivator and hygiene factors need to be met to prevent dissatisfaction
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
15. Diagram depicting a company's structure and showing employees where they fit into its operations
General Partnership
certain disabilities and illnesses
Multinational (or Transnational) Corporation
Organization Chart
16. Body of decisions handed down by courts ruling on individual cases
Gross National Product (GNP)
fixed assets
Common Law
growth strategies
17. S- strengths W- weaknesses O- opportunities T- threats - strengths and weaknesses are internal factors of the company; opportunities and threats are external factors towards the company
negative reinforcement
contract
SWOT analysis
Mass Production
18. Obtain goods they cannot produce - reflect comparative advantage - and create jobs
ways to expand a product line
Three reasons nations trade
activity ratios
form utility
19. Process of subdividing a market into homogeneous groups to identify potential customers and to devise marketing approaches geared to their needs and interests
market segmentation
Management Information System (MIS)
Market
cause-related marketing
20. ____ 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
Outcome-based ethics
Goals
Statutory Law
Theory Z
21. 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
22. Brands that have been given legal protection so that their owners have exclusive rights to their use
demographics
trademarks
empowerment
Procedure
23. Sales promotion aimed at final consumers
selling expenses
owner's equity equation
transaction
consumer promotion
24. Formal agreement to set prices. Sometimes illegal - but is typically secretive
cause-related marketing
Collusion
Strategy
place utility
25. 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
opportunity cost
Stockholder (or Shareholder)
current assets
ratio analysis
26. Physical products purchased by companies to produce other products
double-entry bookkeeping
Limited Liability
Industrial Goods
Chain of Command
27. Legal principal holding owners responsible for paying off all debts of a business
demographics
Three reasons nations trade
Unlimited Liability
European Union (EU)
28. Organization in which most decision-making authority is held by upper-level management
Deregulation
point-of-purchase display
revenues
Centralized Organization
29. Is a drawing that represents every job in the organization and the formal reporting relationships between those jobs.
Organizational Chart
Gross Domestic Product (GDP)
consumer promotion
Decision Making
30. Process by which the world is becoming a single interdependent system
strategic marketing planning
Globalization
break-even point
function of packaging
31. From of sexual harassment deriving from off-color jokes - lewd comments - and so forth
Supply Chain (Value Chain)
Hostile Work Environment
Sexual Harassment
financial management
32. Planned economic system in which the government owns and operates only selected major sources of production
Price Fixing
accounts receivable
Socialism
current ratio
33. Partner who does not share in a firm's management and is liable for its debts only to the limits of said partner's investment
personal sales approach
long-term liabilities
Planning
Limited Partner
34. Form of a corporation spanning national boundaries
family branding
Standard of Living
Organizational Chart
Multinational (or Transnational) Corporation
35. The process of examining an organization's current marketing situation - assessing opportunities and setting objectives - then developing a marketing strategy to reach those objectives
strategic marketing planning
Industrial Goods
skim pricing
word of mouth
36. Confusion results if a person reports to two people at once - according to ____.
productivity - the success of the managers - and the morale of the other employees
unity of command
Restructuring
Merger
37. Customer value created by converting raw materials and other inputs into finished goods and services
form utility
product life cycle
negative reinforcement
database marketing
38. Positive reinforcement - negative reinforcement - punishment
organization behavior modification
direct marketing
price elasticity
Short-range or operational planning
39. Strategy of coordinating and integrating all communications and promotional efforts with customers to ensure greater efficiency and effectiveness
middle management
integrated marketing communications
product mix
Officers
40. Employee who detects and tries to put an end to a company's unethical - illegal - or socially irresponsible actions by publicizing them
Strategic Alliance
auction pricing
Whistle Blower
cost of goods sold
41. A ____ is an agreement between two parties to carry out a transaction - such as the sale of goods from a seller to buyer.
contract
forecasting
brand names
Merger
42. Type of partnership consisting of limited partners and a general (or active) partner
Limited Partnership
Strategic Alliance
Oligopoly
Centralized Organization
43. Any 12 consecutive months used as an accounting period
wants
Pure Competition
net income
fiscal year
44. 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
negative reinforcement
Restructuring
social commerce
45. The various appliances and devices for creating - storing - exchanging - and using information in diverse modes - including visual images - voice - multimedia - and business data
corporate strategies
loss-leader pricing
Information Technology (IT)
Long-Term Goal
46. Media: person to person - telephone - web; audience: small groups; intensity: high; purpose: inform - persuade
Extractor
demographics
exchange process
personal sales approach
47. Partner who actively manages a firm and who has unlimited liability for its debts
form utility
promotion
General (Active) Partner
consumer market
48. An action is morally correct - when - among the people it affects...
maturity stage
it produces the greatest amount of good for the greatest number
test marketing
Three reasons nations trade
49. The marketer must decide whether to keep the product and reduce its costs to compensate for declining sales or to discontinue it
need
debt-to-equity ratio
decline stage
contract
50. Advertising sent directly to potential customers - usually through the mail
Crisis Management
direct mail
organizational market
Organizing