Business Vocabulary: MCQ Quiz

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Stephaniebailey

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Quizzes Created: 1 | Total Attempts: 201

Questions: 9 | Attempts: 201 | Updated: Mar 21, 2023

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This Business Vocabulary MCQ Quiz assesses knowledge of common workplace terms and concepts. It covers acronyms, applications, budgeting, document organization, and time management, crucial for effective business communication and operations.

Questions and Answers

1.

An Acronym:
- A.
  
  Is the opposite of synonym.
- B.
  
  Is a new word formed by taking letters from two or more words.
- C.
  
  Example is BCIS.
- D.
  
  Is a new word formed by taking letters from a word.
Correct Answer(s)
B. Is a new word formed by taking letters from two or more words.
C. Example is BCIS.

Explanation
The correct answer is "is a new word formed by taking letters from two or more words, example is BCIS." This is because an acronym is a word formed by combining the initial letters or parts of several words to create a new word. BCIS is given as an example of an acronym, as it is formed by taking the initial letters from the words "Business," "Computer," and "Information" and combining them to form a new word.

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2.

An application is:
- A.
  
  A form that a potential employer may ask you to complete.
- B.
  
  A computer based program that performs word processing or spreadsheets.
- C.
  
  May contain previous work experience.
- D.
  
  Should not be filled out in black pen.
Correct Answer(s)
A. A form that a potential employer may ask you to complete.
B. A computer based program that performs word processing or spreadsheets.
C. May contain previous work experience.

Explanation
The correct answer is a form that a potential employer may ask you to complete, a computer based program that performs word processing or spreadsheets, and may contain previous work experience. This is because an application can refer to both a form that job seekers fill out to apply for a job and a computer program that performs specific tasks such as word processing or spreadsheets. Additionally, an application may also ask for previous work experience as part of the job application process.

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3.

A budget
- A.
  
  Is usually written for one year.
- B.
  
  Can be spent by individuals.
- C.
  
  Can be spent on expenses.
- D.
  
  Is an amount of money given to a department.
Correct Answer(s)
A. Is usually written for one year.
B. Can be spent by individuals.
C. Can be spent on expenses.
D. Is an amount of money given to a department.

Explanation
A budget is a financial plan that outlines the expected income and expenses for a specific period, usually one year. It helps individuals and organizations manage their finances by allocating funds for various expenses. Individuals can spend the budgeted amount on their personal expenses, while organizations allocate the budget to different departments or functions. Therefore, a budget is typically written for one year, can be spent by individuals, can be spent on expenses, and is an amount of money given to a department.

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4.

Collate means:
- A.
  
  To assemble papers by month.
- B.
  
  To assemble papers numerically.
- C.
  
  To assemble papers alphabetically.
- D.
  
  To assemble papers in order.
Correct Answer(s)
A. To assemble papers by month.
B. To assemble papers numerically.
C. To assemble papers alphabetically.
D. To assemble papers in order.

Explanation
The correct answer is to assemble papers in order.

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5.

Comp time:
- A.
  
  Can be used as vacation time.
- B.
  
  is time on a computer.
- C.
  
  Can be used to be paid overtime.
- D.
  
  Is only available at some jobs.
Correct Answer(s)
A. Can be used as vacation time.
C. Can be used to be paid overtime.
D. Is only available at some jobs.

Explanation
Comp time refers to compensatory time off, which is a policy that allows employees to take time off from work instead of receiving overtime pay for extra hours worked. This time off can be used as vacation time, allowing employees to take a break from work and relax. Additionally, comp time can also be used to be paid overtime, meaning that employees can choose to accumulate extra hours worked as time off or receive additional pay for those hours. However, it is important to note that comp time policies may vary across different jobs and organizations, and not all jobs offer this benefit.

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6.

Bi-weekly is:
- A.
  
  52 times a year.
- B.
  
  Every other week.
- C.
  
  26 times a year.
- D.
  
  Usually in reference to paychecks.
- E.
  
  Two times a month.
Correct Answer(s)
B. Every other week.
C. 26 times a year.
D. Usually in reference to paychecks.

Explanation
Bi-weekly means occurring every other week, so it happens 26 times in a year. It is often used in reference to paychecks, as some people are paid bi-weekly, receiving their salary every two weeks.

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7.

Blamestorming is:
- A.
  
  A group of people gathering to figure out what went wrong.
- B.
  
  A group of people gathering to figure out why something didn't work.
- C.
  
  A group of people gathering to eat.
- D.
  
  A group of people gathering to place blame on someone.
Correct Answer(s)
A. A group of people gathering to figure out what went wrong.
B. A group of people gathering to figure out why something didn't work.
D. A group of people gathering to place blame on someone.

Explanation
Blamestorming refers to a group of people gathering to analyze and discuss what went wrong or why something didn't work. It involves a collective effort to identify and understand the root causes of a problem or failure, rather than simply placing blame on someone. The term suggests a collaborative approach to problem-solving and learning from mistakes, rather than focusing on assigning fault.

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8.

A commute:
- A.
  
  Can depend on traffic.
- B.
  
  That is lengthy must be worth your time and money.
- C.
  
  Is the amount of time it takes to get to and from work.
- D.
  
  Is the route taken to and from work.
Correct Answer(s)
A. Can depend on traffic.
B. That is lengthy must be worth your time and money.
C. Is the amount of time it takes to get to and from work.
D. Is the route taken to and from work.

Explanation
A commute can depend on traffic because the time it takes to get to and from work can vary based on the amount of traffic on the road. A lengthy commute must be worth your time and money because if the commute is long, it should be valuable enough to justify the time and cost spent on it. The commute is the amount of time it takes to get to and from work, as well as the route taken to and from work.

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9.

A bonus:
- A.
  
  Is extra money given to an employee for a job well done.
- B.
  
  Is often given at Christmas.
- C.
  
  Can be another form of gift besides money.
- D.
  
  Is an amount applied to your regular paycheck.
Correct Answer(s)
A. Is extra money given to an employee for a job well done.
B. Is often given at Christmas.
C. Can be another form of gift besides money.

Explanation
The correct answer is that a bonus is extra money given to an employee for a job well done. This additional compensation is often given as a reward or recognition for exceptional performance. Bonuses can also be given at Christmas or other special occasions as a form of appreciation. It is worth noting that bonuses can take different forms besides money, such as gifts, vouchers, or additional time off.

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Current Version
Mar 21, 2023

Quiz Edited by
ProProfs Editorial Team
Mar 23, 2010

Quiz Created by
Stephaniebailey

Business Vocabulary: MCQ Quiz

An Acronym:

An application is:

A budget

Collate means:

Comp time:

Bi-weekly is:

Blamestorming is:

A commute:

A bonus: