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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. An extra amount of time granted to a party to make a payment






2. Unwelcome sexual advances in the workplace






3. The ability to get others to accoplish tasks because of the position the leader holds






4. Process of converting government enterprises into privately owned companies






5. The way you live as measure by the kinds and quality of goods and services you can afford






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






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






8. This level of management includes department heads and district sales managers.






9. Arrangement in which a buyer (franchisee) purchases the right to sell the good or service of the seller (franchiser)






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






11. Law made by the authority of administrative agencies






12. Characteristic of decentralized companies with relatively few layers of management






13. Group of small investors who invest money in companies with rapid growth potential






14. Form of a corporation spanning national boundaries






15. A leadership style where managers are less directive and involved employees in decision making






16. Business costs that increase with the number of units produced






17. Agreement to gradually eliminate tariffs and other trade barriers among the United States - Canada - and Mexico






18. Any 12 consecutive months used as an accounting period






19. Delegating more power to employees






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






21. Process by which the world is becoming a single interdependent system






22. Costs created in the process of generating revenues






23. Free or bargain-priced items offered to encourage customers to buy a product






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






25. Specific customer groups or segments to whom a company wants to sell a particular product






26. 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






27. Advertising that tries to sell specific goods or services - generally by describing features - benefits - and occasionally - price






28. Elimination of rules that restrict business activity






29. Acquiring funds through borrowing






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






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






32. Informal work groups can affect ____.






33. Strategy - at the business-unit or product-line level - focusing on improving a firm's competitive position






34. Done in conjunction with budgeting. Develops departmental maintenance and improvement goals for the coming year.






35. Degree to which customers continue to buy from a particular retailer or buy the products of a particular manufacturer or service provider






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






37. Business owned and usually operated by one person who is responsible for all its debts






38. Measure of a firm's short-term liquidity - calculated by divided current assets by current liabilities






39. The company founder is no longer solely responsible for all decision making during the ____.






40. A group of customer who need or want a particular product and have the money to buy it






41. Assets = liabilities + owner's equity






42. Provides protection for the product - makes products easier to display - and attracts attention






43. 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.






44. Accounting method in which revenue is recorded when payment is received and expense is recorded when cash is paid






45. Selling one product at a loss as a way to entice customers to consider other products






46. Method of calculating the minimum volume of sales needed at a given price to cover all costs






47. 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






48. Legal principal holding investors liable for a firm's debts only to the limits of their personal investments in it






49. Advertising that appears on various items such as coffee mugs - pens - and calendars - designed to help keep a company's name in front of customers






50. Process of planning and executing the conception - pricing - promotion - and distribution of ideas - goods - and services to create and maintain relationships







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Can you answer 50 questions in 15 minutes?


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