Advance english

Question 1

What is the definition of ‘asset’?

Answer 1

A resource owned by a business that is expected to provide future economic benefits.

Question 2

True or False: A liability is an obligation that a company owes to outside parties.

Answer 2

True

Question 3

Fill in the blank: The _____ is the difference between total assets and total liabilities.

Answer 3

equity

Question 4

What does ‘liquidity’ refer to in a business context?

Answer 4

The ability of a company to meet its short-term financial obligations.

Question 5

What is the meaning of ‘revenue’?

Answer 5

The income generated from normal business operations.

Question 6

What is a ‘stakeholder’?

Answer 6

Any individual or group that has an interest in the success or failure of a business.

Question 7

True or False: ‘Market share’ refers to the percentage of an industry or market’s total sales that is earned by a particular company over a specified time period.

Answer 7

True

Question 8

Define ‘capital’.

Answer 8

Financial assets or resources that businesses use to fund their operations and growth.

Question 9

What is ‘diversification’?

Answer 9

A risk management strategy that mixes a wide variety of investments within a portfolio.

Question 10

Fill in the blank: ‘_____’ is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services.

Answer 10

Marketing

Question 11

What does ‘B2B’ stand for?

Answer 11

Business to Business

Question 12

What is the definition of ‘merger’?

Answer 12

The combination of two companies to form a new entity.

Question 13

True or False: ‘Acquisition’ refers to one company taking over another.

Answer 13

True

Question 14

What is ‘brand equity’?

Answer 14

The value added to a product by having a well-known brand name.

Question 15

Define ‘supply chain’.

Answer 15

The entire system of production, processing, and distribution of goods from raw materials to the end consumer.

Question 16

What is the meaning of ‘cost-benefit analysis’?

Answer 16

A process by which business decisions are analyzed based on their costs and benefits.

Question 17

Fill in the blank: A _____ is a detailed plan that outlines how a business will achieve its goals.

Answer 17

business strategy

Question 18

What does ‘IPO’ stand for?

Answer 18

Initial Public Offering

Question 19

What is ‘customer segmentation’?

Answer 19

The process of dividing a customer base into groups of individuals that are similar in specific ways.

Question 20

True or False: ‘Corporate social responsibility’ (CSR) refers to a business model in which companies integrate social and environmental concerns in their operations.

Answer 20

True

Question 21

Define ‘competitive advantage’.

Answer 21

An attribute that allows an organization to outperform its competitors.

Question 22

What is the definition of ‘profit margin’?

Answer 22

A measure of profitability calculated as net income divided by revenue.

Question 23

Fill in the blank: A _____ is a written document that outlines the goals, strategies, and actions of an organization.

Answer 23

business plan

Question 24

What does ‘SWOT’ analysis stand for?

Answer 24

Strengths, Weaknesses, Opportunities, Threats

Question 25

What is 'e-commerce'?

Answer 25

Buying and selling goods or services using the internet.

Question 26

True or False: 'Human resources' refers to the department responsible for managing employee-related functions.

Answer 26

True

Question 27

What is the meaning of 'outsourcing'?

Answer 27

The practice of hiring external firms to handle business functions.

Question 28

Define 'net income'.

Answer 28

The total profit of a company after all expenses and taxes have been subtracted from revenue.

Question 29

What is a 'franchise'?

Answer 29

A business model where a business owner licenses their business model and brand to a third party.

Question 30

Fill in the blank: The _____ is a graphical representation of the relationship between a company's revenues and expenses.

Answer 30

profit and loss statement

Question 31

What does 'KPI' stand for?

Answer 31

Key Performance Indicator

Question 32

What is the definition of 'liability'?

Answer 32

A company's legal financial debts or obligations that arise during the course of business operations.

Question 33

True or False: 'Benchmarking' is the process of comparing business processes and performance metrics to industry bests.

Answer 33

True

Question 34

What is the meaning of 'business model'?

Answer 34

A company's plan for how it will generate revenue and make a profit.

Question 35

Define 'return on investment' (ROI).

Answer 35

A measure used to evaluate the efficiency of an investment.

Question 36

What is 'due diligence'?

Answer 36

The investigation or audit of a potential investment or product to confirm all facts.

Question 37

Fill in the blank: '_____' refers to the total amount of money a company has earned from its sales.

Answer 37

Revenue

Question 38

What does 'P&L' stand for?

Answer 38

Profit and Loss

Question 39

What is the definition of 'market analysis'?

Answer 39

The study of the dynamics of a market within an industry.

Question 40

True or False: 'Networking' is the process of establishing a mutually beneficial relationship with other business people.

Answer 40

True

Question 41

What is the meaning of 'brand loyalty'?

Answer 41

The tendency of consumers to continue buying the same brand of goods.

Question 42

Define 'interest rate'.

Answer 42

The amount charged by a lender to a borrower for the use of borrowed money.

Question 43

What is 'value proposition'?

Answer 43

A statement that summarizes why a consumer should choose a product or service.

Question 44

Fill in the blank: A _____ is a legal entity that is separate and distinct from its owners.

Answer 44

corporation

Question 45

What does 'CRM' stand for?

Answer 45

Customer Relationship Management

Question 46

What is the definition of 'target market'?

Answer 46

A specific group of consumers at which a company aims its products and services.

Question 47

True or False: 'Cash flow' refers to the total amount of money being transferred into and out of a business.

Answer 47

True

Question 48

What is the meaning of 'lead generation'?

Answer 48

The process of attracting and converting strangers and prospects into someone who has indicated interest in a company's product or service.

Question 49

Define 'business ethics'.

Answer 49

The principles and standards that determine acceptable conduct in business organizations.

Question 50

What is 'economic downturn'?

Answer 50

A period when the economy is declining and businesses often experience reduced demand for their products.

Question 51

Fill in the blank: A _____ is a detailed report that summarizes the financial performance of a company over a specific period.

Answer 51

financial statement

Question 52

What does 'R&D' stand for?

Answer 52

Research and Development

Question 53

What is the definition of 'market segmentation'?

Answer 53

The process of dividing a broad consumer or business market into sub-groups based on shared characteristics.

Question 54

True or False: 'Inflation' is the rate at which the general level of prices for goods and services is rising.

Answer 54

True

Question 55

What is the meaning of 'business continuity planning'?

Answer 55

The process of creating systems of prevention and recovery to deal with potential threats to a company.

Question 56

Define 'negotiation'.

Answer 56

The process by which parties discuss and reach an agreement.

Question 57

What is an 'executive summary'?

Answer 57

A brief overview of a business plan or proposal.

Question 58

Fill in the blank: A _____ is a person who organizes and operates a business, taking on financial risks to do so.

Answer 58

entrepreneur

Question 59

What does 'scalability' refer to?

Answer 59

The capability of a system to handle a growing amount of work or its potential to accommodate growth.

Question 60

What is the definition of 'business process'?

Answer 60

A set of activities and tasks that, once completed, will accomplish an organizational goal.

Question 61

True or False: 'Corporate governance' refers to the system of rules, practices, and processes by which a company is directed and controlled.

Answer 61

True

Question 62

What is the meaning of 'value chain'?

Answer 62

The series of steps a company takes to deliver a product or service to the market.

Question 63

Define 'exit strategy'.

Answer 63

A plan for how an entrepreneur will sell their ownership in a company or otherwise exit the business.