Business Management and Corporate Terminology Quiz
Ownership and Organizational Structures
1. A business owned and operated by one person where the owner has unlimited liability is a:
- A) Partnership
- B) Sole Trader
- C) Public Limited Company
2. Which body is responsible for setting the long-term strategy of a company?
- A) The C-Suite
- B) The Board of Directors
- C) Front-line Staff
3. In a flat hierarchy, there are few management levels and decision-making is usually faster.
- A) Tall
- B) Matrix
- C) Flat
4. The department responsible for innovation and creating new products is:
- A) R&D
- B) Logistics
- C) Operations
5. “The Marketing Manager reports to the Sales Director.”
- A) reports
- B) oversees
- C) supervises
6. If you have “limited liability,” it means:
- A) You are responsible for all company debts with your personal assets.
- B) Your private assets are protected if the company goes bust.
- C) You cannot sell shares to the general public.
13. A “Private Limited Company” (Ltd) cannot sell shares to the general public.
- A) can
- B) cannot
- C) must
Organizational Management and Operations
7. Removing middle management levels to “flatten” an organization is called:
- A) Outsourcing
- B) Downsizing
- C) Delayering
8. A structure where employees report to both a functional manager and a project manager is a:
- A) Divisional Structure
- B) Matrix Structure
- C) Functional Structure
9. “We need to streamline our production processes to reduce waste and save time.”
- A) streamline
- B) fill
- C) head up
10. A “PLC” (Public Limited Company) can raise capital by selling shares on the:
- A) Private market
- B) Stock Exchange
- C) Central Bank
11. Which department handles after-sales service and technical inquiries?
- A) Marketing
- B) Customer Support
- C) Finance
12. “The company is divided into three main regional branches.”
- A) into
- B) to
- C) of
Marketing and Advertising Strategies
14. “I have finally finished reviewing the report you sent me yesterday; the figures look correct.”
- A) a
- B) an
- C) the
15. Which term refers to the specific channels (like TV or magazines) used to deliver an advertisement?
- A) Advertising Methods
- B) Advertising Media
- C) Advertising Verbs
16. A standard video advertisement, typically 30 seconds long, is called a:
- A) Commercial
- B) Publicity stunt
- C) Teaser campaign
17. Using a famous public figure to promote a brand is:
- A) Product placement
- B) Viral advertising
- C) Celebrity endorsement
18. The level of consumer recognition of a brand is known as:
- A) Brand awareness
- B) Slogan
- C) Press coverage
19. Which verb is a common collocation for starting a new advertising campaign?
- A) To place a campaign
- B) To launch a campaign
- C) To sponsor a campaign
20. “I saw an interesting advert on LinkedIn for a job in London.”
- A) a
- B) an
- C) the
21. “We are currently looking for a CEO with experience in the retail sector.”
- A) a
- B) an
- C) the
22. A short, memorable phrase representing a brand is a:
- A) USP
- B) Slogan
- C) Buzz
23. “Can you talk me through the storyboard for the new TV spot?”
- A) talk
- B) tell
- C) speak
24. “Advertising Methods” refers to how the message is delivered (e.g., sponsorship or product placement).
- A) Media
- B) Methods
- C) Media Channels
25. “Viral advertising” is designed to be shared organically by users online.
- A) on TV
- B) online
- C) via billboards
26. “Unique Selling Point” (USP) is:
- A) The total cost of an ad.
- B) A feature that differentiates a product from its competitors.
- C) The target audience.
Finance and Accounting Essentials
27. Total income generated by sales before any deductions or expenses is called:
- A) Net Profit
- B) Turnover
- C) Profit Margin
28. Anything of value owned by a business (like buildings, cash, or patents) is an:
- A) Asset
- B) Liability
- C) Overhead
29. The “Bottom Line” of a Profit & Loss account refers to:
- A) Total Revenue
- B) Gross Profit
- C) Net Profit
30. If a company is “in the red,” it is:
- A) Operating at a profit
- B) Operating at a loss
- C) Breaking even
31. Selling ownership shares to fund growth is equity financing.
- A) Debt
- B) Equity
- C) Asset
32. A “Bear Market” is characterized by:
- A) Rising share prices and high investor confidence.
- B) Falling share prices and low investor confidence.
- C) Stable prices in prestigious companies.
33. The original sum of money borrowed, separate from interest, is the:
- A) Collateral
- B) Dividend
- C) Principal
34. “To cook the books” means:
- A) To reach the point where revenue equals costs.
- B) To fraudulently alter financial records.
- C) To pay dividends to shareholders.
35. A company’s legal financial debts (loans, mortgages, accounts payable) are:
- A) Assets
- B) Overheads
- C) Liabilities
36. An overdraft is a bank facility that lets a company spend more than it has in its account.
- A) IPO
- B) Overdraft
- C) Equity stake
37. The ease with which assets can be turned into cash is:
- A) Solvency
- B) Liquidity
- C) Volatility
38. The percentage difference between production cost and selling price is the:
- A) Turnover
- B) Profit Margin
- C) Net Profit
39. “Blue-chip stocks” are:
- A) High-risk investments in startups.
- B) Shares in large, safe, prestigious companies.
- C) Complex financial instruments like derivatives.
40. An “Initial Public Offering” (IPO) happens when a company:
- A) Goes bankrupt.
- B) Goes public for the first time by selling shares.
- C) Pays dividends.
41. “Ongoing administrative expenses like rent and utilities” are known as:
- A) Assets
- B) Liabilities
- C) Overheads
42. “To break even” means:
- A) Total revenue equals total costs.
- B) Total revenue is higher than costs.
- C) Total revenue is lower than costs.
Corporate Culture and Communication
43. Which of these is an “invisible” element of culture in the Iceberg Model?
- A) Dress code
- B) Office environment
- C) Work ethic
44. “According to the safety manual, all visitors must wear high-visibility vests on the factory floor.”
- A) might
- B) must
- C) should
45. If you agree with someone completely, you see eye to eye with them.
- A) eye to eye
- B) face to face
- C) hand in hand
46. “To break the ice” means:
- A) To get into trouble.
- B) To make people feel more relaxed in a social setting.
- C) To do something embarrassing.
47. In some cultures, being on time (punctuality) is less strictly enforced than in others.
- A) being on time
- B) being late
- C) being formal
48. “You don’t have to dress formally for the dinner; it’s a very casual event.”
- A) mustn’t
- B) shouldn’t
- C) don’t have to
49. To feel “like a fish out of water” means feeling:
- A) Very comfortable.
- B) Uncomfortable in an unfamiliar situation.
- C) Surprised by a new experience.
50. To “put your foot in it” is to:
- A) Agree completely.
- B) Say something tactless or embarrassing.
- C) Give someone a difficult task.
51. In the Iceberg Model, “Personal Space” is considered:
- A) Visible
- B) Invisible
- C) Tangible
52. “You mustn’t use your phone during the flight.” (Prohibition)
- A) don’t have to
- B) mustn’t
- C) needn’t
53. “I wouldn’t like to work in a tall hierarchy; I prefer flat structures.”
- A) wouldn’t
- B) shouldn’t
- C) mustn’t
54. “To get into hot water” means:
- A) To be very successful.
- B) To get into trouble.
- C) To feel relaxed.
55. “You should bring a small gift to the host, but it is not mandatory.”
- A) must
- B) should
- C) have to
56. “I really get on like a house on fire with my colleagues.”
- A) car
- B) house
- C) forest
Human Resources and Recruitment
57. A document detailing the tasks and responsibilities of a post is a:
- A) Curriculum Vitae
- B) Job Description
- C) Application Form
58. “Shortlisting” involves:
- A) Persuading high-level professionals to leave their jobs.
- B) Selecting a small group of the best applicants for an interview.
- C) Checking references with previous employers.
59. A person’s past achievements and career history is their:
- A) Background
- B) Track record
- C) Qualifications
60. “He is very interested in applying for the Senior Analyst role.”
- A) applying
- B) to apply
- C) apply
61. “I look forward to meeting you at the interview next week.”
- A) meet
- B) meeting
- C) to meet
62. “She finally managed to finish the report before the deadline.”
- A) finishing
- B) finish
- C) to finish
63. The practice of persuading senior professionals to join a company from a competitor is:
- A) Recruitment
- B) Headhunting
- C) Shortlisting
64. When a job is no longer needed and the employee is let go, it is a:
- A) Redundancy
- B) Dismissal
- C) Resignation
65. “I remember signing the contract last month; I’m sure it’s in the file.”
- A) signing
- B) to sign
- C) sign
66. “Don’t forget to send the email before 5 PM today.”
- A) sending
- B) to send
- C) send
67. If you are “accountable to” the CEO, you report directly to them.
- A) of
- B) for
- C) to
68. “Finding the right candidate for this role is our top priority this month.”
- A) Find
- B) Finding
- C) To finding
69. “She stopped talking to the client when the manager entered the room.” (Ceased the activity)
- A) talking
- B) to talk
- C) talk
70. “References” are usually provided by:
- A) Family members
- B) Former employers
- C) The candidate themselves
71. “To head up a department” means:
- A) To work as an intern.
- B) To be the leader/manager of it.
- C) To apply for a job in it.
International Trade and Globalization
72. Globalization leads to lower retail prices for consumers due to increased competition.
- A) higher
- B) lower
- C) stable
73. Taxes paid on goods coming into a country are:
- A) Quotas
- B) Subsidies
- C) Tariffs
74. Selling goods abroad below production cost to eliminate competitors is:
- A) Dumping
- B) Liberalisation
- C) Protectionism
75. “Protectionism” is a strategy used to:
- A) Remove all trade barriers.
- B) Protect local producers from foreign competition.
- C) Promote globalization.
76. Financial support given by a government to domestic companies is a:
- A) Tariff
- B) Subsidy
- C) Quota
77. A “Market Survey” is carried out to:
- A) Protect local industries.
- B) Understand consumer needs and trends.
78. “Fair Trade” ensures that producers in developing countries:
- A) Pay higher taxes.
- B) Get a fair price for their goods.
- C) Compete with dumping.
79. “Liberalisation” usually involves deregulation (the removal of government rules).
- A) regulation
- B) deregulation
- C) protectionism
80. “Strategic industries” are sectors like energy or defense that:
- A) Are irrelevant to the economy.
- B) Are vital to a country’s security and stability.
- C) Only exist in developing countries.