$1.$ Which of the following is not a primary function of management?

a$)$ Planning

b$)$ Controlling

c$)$ Accounting

d$)$ Organizing

$2.$ What does ROI stand for in business?

a$)$ Return on Investment

b$)$ Risk of Investment

c$)$ Revenue on Investment

d$)$ Ratio of Investment

$3.$ Which type of business organization offers limited liability to its owners?

a$)$ Sole proprietorship

b$)$ Partnership

c$)$ Corporation

d$)$ Cooperative

$4.$ What is the term for a unique selling proposition that differentiates a product or service from its competitors?

a$)$ Business model

b$)$ Competitive advantage

c$)$ Market segmentation

d$)$ Supply chain

$5.$ What is the process of systematically gathering, analyzing, and interpreting data related to a business decision?

a$)$ Marketing

b$)$ Accounting

c$)$ Market research

d$)$ Inventory management

$6.$ Which economic system relies on supply and demand to determine prices and allocate resources?

a$)$ Capitalism

b$)$ Socialism

c$)$ Communism

d$)$ Mixed economy

$7.$ What is the term for the set of values, beliefs, and norms that shape an organization's culture?

a$)$ Mission statement

b$)$ Corporate hierarchy

c$)$ Organizational structure

d$)$ Corporate culture

$8.$ In the context of finance, what does the acronym IPO stand for?

a$)$ Initial Public Offering

b$)$ Internal Process Optimization

c$)$ International Production Operations

d$)$ Income and Profit Outlook

$9.$ Which financial statement provides an overview of a company's financial position at a specific point in time?

a$)$ Income statement

b$)$ Cash flow statement

c$)$ Balance sheet

d$)$ Budget statement

$10.$ What is the term for the process of bringing a new product or service to market?

a$)$ Market research

b$)$ Product development

c$)$ Product launch

d$)$ Branding

$11.$ Which type of marketing strategy focuses on selling products or services directly to consumers?

a$)$ B$2$B marketing

b$)$ B$2$C marketing

c$)$ C$2$C marketing

d$)$ P$2$P marketing

$12.$ What is the term for the legal protection granted to the creator of an original work or invention?

a$)$ Copyright

b$)$ Patent

c$)$ Trademark

d$)$ Trade secret

$13.$ Which type of budgeting involves allocating resources based on historical data and past performance?

a$)$ Zero$-$based budgeting

b$)$ Incremental budgeting

c$)$ Flexible budgeting

d$)$ Capital budgeting

$14.$ What is the process of examining and evaluating an organization's financial statements and records?

a$)$ Auditing

b$)$ Budgeting

c$)$ Forecasting

d$)$ Asset management

$15.$ Which marketing strategy focuses on promoting a product or service through online channels?

a$)$ Digital marketing

b$)$ Traditional marketing

c$)$ Guerrilla marketing

d$)$ Social marketing

$16.$ What is the term for the set of rules and regulations that govern how a corporation is managed and controlled?

a$)$ Articles of Incorporation

b$)$ Bylaws

c$)$ Corporate charter

d$)$ Shareholder agreement

$17.$ Which pricing strategy involves setting a price just below a whole number $($e$.$g$.,$ $$9\mathrm{.}99$ instead of $$10\mathrm{.}00)?$

a$)$ Penetration pricing

b$)$ Price skimming

c$)$ Odd$-$even pricing

d$)$ Cost$-$plus pricing

$18.$ What is the term for the process of identifying and evaluating potential risks that could affect a business?

a$)$ Risk assessment

b$)$ Risk management

c$)$ Risk mitigation

d$)$ Risk aversion

$19.$ Which financial ratio measures a company's ability to meet its short$-$term financial obligations?

a$)$ Debt$-$to$-$equity ratio

b$)$ Current ratio

c$)$ Return on investment

d$)$ Price$-$earnings ratio

$20.$ In marketing, what does the $"4$ Ps$"$ stand for?

a$)$ Product, Price, Promotion, Place

b$)$ Planning, Production, Packaging, Placement

c$)$ Profit, Performance, Planning, Promotion

d$)$ Positioning, Public relations, Packaging, Pricing

$21.$ What is the term for a legal agreement that allows one party to use another party's brand, logo$,$ or trademark in exchange for fees or royalties?

a$)$ Joint venture

b$)$ Licensing agreement

c$)$ Franchise agreement

d$)$ Strategic alliance

$22.$ Which type of leadership style involves making decisions without seeking input from others?

a$)$ Autocratic

b$)$ Democratic

c$)$ Transformational

d$)$ Laissez$-$faire

$23.$ What is the process of analyzing an organization's strengths, weaknesses, opportunities, and threats?

a$)$ SWOT analysis

b$)$ PESTLE analysis

c$)$ GAP analysis

d$)$ ROI analysis

$24.$ Which economic indicator measures the total value of goods and services produced within a country's borders in a given year?

a$)$ Gross Domestic Product $($GDP$)$

b$)$ Consumer Price Index $($CPI$)$

c$)$ Unemployment rate

d$)$ Inflation rate

$25.$ What is the term for the practice of selling a range of related products or services to existing customers?

a$)$ Diversification

b$)$ Cross$-$selling

c$)$ Market segmentation

d$)$ Branding