Test on Essential Business Vocabulary

Question 1: Consumer durables are considered long-term goods.

A. Ano

B. Ne

Explanation: The study materials define consumer durables as 'dlouhodobé zboží', which translates to long-term goods.

Question 2: Socially responsible behavior is considered ethical.

A. Ano

B. Ne

Explanation: The study materials list both 'ethical' and 'socially responsible' under the 'Ethics' topic, implying a direct connection between them, where being socially responsible aligns with ethical conduct.

Question 3: Which of the following activities are considered forms of promotion according to the study materials?

A. Offering a free sample of a product

B. A celebrity recommending a product

C. Arranging a friendly bid to acquire a target company

D. Providing a loyalty card to customers

Explanation: According to the study materials, 'free sample', 'product endorsement' (doporučení celebritou), and 'loyalty card' are all listed under the 'Promotion' section. A friendly bid is related to mergers and acquisitions, not promotion.

Question 4: Which of the following items would typically be found on a company's balance sheet?

A. Trade credit

B. Current assets

C. Long-term liabilities

D. Gross profit

Explanation: A balance sheet is defined as 'rozvaha' in the study materials, which summarizes a company's financial position at a specific time. It includes categories like assets (such as current assets) and liabilities (such as long-term liabilities). Trade credit relates to payment terms, and gross profit is typically found on an income statement, not directly on a balance sheet as an asset or liability category.

Question 5: Empowerment involves a reduction in an employee's decision-making capacity.

A. Ano

B. Ne

Explanation: Empowerment is defined as posílení pravomocí, which means strengthening or increasing authority, not reducing it.