Business and Management Quiz

Question 1

What's a budget allocating money for the acquisition or maintenance of fixed assets such as land, buildings & equipment?

Accepted Answer

Capital budget

Question 2

What do you call people who pay for and use the products and services which are offered by a business?

Accepted Answer

External Customers

Question 3

What do you call conforming to a rule such as specification, policy standard or law in business?

Accepted Answer

Compliance

Question 4

Which is the act or process of making or enacting laws?

Accepted Answer

Legislation

Question 5

What is the National Living Wage payable to workers in the UK aged 21 and over as of April 2025?

Accepted Answer

£12.21

Question 6

Which is a situation in which a company employs another organisation to do some of it's work?

Accepted Answer

Outsourcing

Question 7

What do you call a plan designed to to take account of a possible future event or circumstance?

Accepted Answer

Contingency Plan

Question 8

What does PECR stand for?

Accepted Answer

Privacy and Electronic Communications Regulations

Question 9

What does CMA stand for?

Accepted Answer

Certified Management Accountant

Question 10

What describes a system of shared assumptions, values and beliefs which govern how people behave in organisations?

Accepted Answer

Organizational culture

Question 11

What is the process by which a business or other organisation deals with a sudden emergency?

Accepted Answer

Crisis management

Question 12

What does RIDDOR stand for?

Accepted Answer

Reporting of Injuries, Diseases and Dangerous Occurrences Regulations

Question 13

Which is a measure of performance over time against a specific objective?

Accepted Answer

Key Performance Indicator

Question 14

What do you call a person that owns shares in a company?

Accepted Answer

Shareholder

Question 15

When did GDPR come into force?

Accepted Answer

25th of May 2018

Question 16

What is an organisational structure that usually shows a single person at the top with levels of power below them?

Accepted Answer

Hierarchical structure

Question 17

Which is a person or entity that is the source of goods or services?

Accepted Answer

Supplier

Question 18

What do you call a discussion in which new ideas are generated and discussed?

Accepted Answer

Thought Shower

Question 19

What do you call a market situation where there are many sellers but selling dissimilar goods?

Accepted Answer

Imperfect Competition

Question 20

What is the manner which a corporation, firm or business presents itself to the public?

Accepted Answer

Corporate Image

Question 21

What do you call people within a business who receive goods or services from other parts of the business?

Accepted Answer

Internal customers

Question 22

What do you call the difference between revenue and the cost of making a product?

Accepted Answer

Gross Profit

Question 23

Which of these shows a company’s revenue and expenses over a particular period of time?

Accepted Answer

Income Statement

Question 24

What is the abbreviation for Specific, Measurable, Agreed/Achievable, Realistic and Time Bound?

Accepted Answer

SMART

Question 25

Which is the process of gathering information about target markets and customers in order to inform business activity?

Accepted Answer

Market Research

Business and Management Quiz

Questions 25

Business and Management Quiz

Questions 25