Common Business Acronyms Quiz

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  • 1/10 Questions

    What does "TBH" mean?

    • Try both highways
    • Try (to) be humble
    • To be honest
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About This Quiz

Are you well aware of the language of the business world, i.e., acronyms? What are some common acronyms used in businesses? Play the quiz below and check for yourself. Business acronyms are the abbreviations of words and phrases that are used to convey messages within the organization. Some of them are; BID, COD, EOD, etc. If you think you can easily crack these acronyms, then what are you waiting for? Take up the quiz and get your scores in the end.

Common Business Acronyms Quiz - Quiz

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  • 2. 

    FWIW stands for

    • For what it’s worth

    • For why it’s worth

    • For what it’s waste

    Correct Answer
    A. For what it’s worth
    Explanation
    FWIW stands for "For what it's worth." This phrase is commonly used in informal communication to preface a statement or opinion that may not carry much value or significance. It is often used to indicate that the information being shared may not be highly important or relevant, but the speaker still feels it is worth mentioning.

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  • 3. 

    What does OOO mean in business?

    • Hugs (as in "hugs and kisses": oxox) 

    • Opportunity occurring online

    • Out of office

    Correct Answer
    A. Out of office
    Explanation
    OOO stands for "out of office" in business. This acronym is commonly used to indicate that someone is not available or away from their usual work location. When someone sets their email or messaging status to OOO, it informs others that they may not receive an immediate response. This could be due to vacation, travel, or any other reason that keeps them away from work.

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  • 4. 

    SMART stands for

    • Specific, machine, attainable, realistic, time-bound

    • Start, measurable, attainable, realistic, time-bound

    • Specific, measurable, attainable, realistic, time-bound

    Correct Answer
    A. Specific, measurable, attainable, realistic, time-bound
    Explanation
    The correct answer is "Specific, measurable, attainable, realistic, time-bound." This acronym, SMART, is commonly used in goal-setting and project management to ensure that objectives are well-defined, trackable, achievable, relevant, and time-bound. By considering these criteria, individuals and teams can set clear and actionable goals that are more likely to be accomplished.

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  • 5. 

    BOP stands for

    • Balance of Payments

    • Business Order Pay

    • Back Office Pay

    Correct Answer
    A. Balance of Payments
    Explanation
    BOP stands for Balance of Payments, which is a record of all the economic transactions made between individuals, businesses, and the government of a country with the rest of the world. It includes both the imports and exports of goods and services, as well as financial transactions such as investments and loans. The balance of payments helps to assess the economic health and competitiveness of a country, as well as its relationship with other nations.

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  • 6. 

    BID stands for ----

    • Bring it down

    • Break it down

    • Brought it down

    Correct Answer
    A. Break it down
    Explanation
    The acronym BID stands for "Break it down". This phrase is commonly used to ask someone to explain or analyze something in a step-by-step manner or to simplify a complex concept into smaller, more manageable parts. Therefore, "Break it down" is the correct answer that best matches the meaning of the acronym BID.

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  • 7. 

    ETA stands for

    • Expected time of arrival

    • Estimated time of action

    • Estimated time of arrival

    Correct Answer
    A. Estimated time of arrival
    Explanation
    ETA stands for Estimated Time of Arrival. It is a term commonly used in transportation and logistics to refer to the expected time that a person or a shipment is expected to arrive at a certain destination. It helps to provide an estimated timeline for planning and coordination purposes.

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  • 8. 

    What is the full form of "AAR"?

    • Average Annual Return

    • Average Annual Rate

    • Annual Accounting Rate

    Correct Answer
    A. Average Annual Return
    Explanation
    The full form of "AAR" is Average Annual Return. This term is commonly used in finance and investment to measure the average rate of return on an investment over a specific period of time. It provides a standardized way to compare the performance of different investments or portfolios.

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  • 9. 

    Which acronym can mean all these? Keep me posted. Give me a shout. Give me a heads-up. Keep me informed.

    • LMK

    • KMI

    • KMP

    Correct Answer
    A. LMK
    Explanation
    The acronym LMK can mean all the given phrases. "Keep me posted," "Give me a shout," "Give me a heads-up," and "Keep me informed" all imply the need for someone to provide updates or information. LMK stands for "Let me know," which is a common phrase used to request information or updates from someone. Therefore, LMK is the correct answer.

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  • 10. 

    Often people use this acronym meaning, “You may already know this, but I wanted to make sure you did.” (In this way, it’s sort of a mix between FYI and BTW.) Use it to direct people’s attention toward something you want them to see or—more importantly—not overlook.

    • ICYMI

    • FYIP

    • DOTP

    Correct Answer
    A. ICYMI
    Explanation
    ICYMI stands for "In Case You Missed It." It is often used to draw attention to something that the person may have missed or overlooked. It is a way of saying, "You may already know this, but I wanted to make sure you did." It is similar to FYI (For Your Information) and BTW (By The Way), but specifically emphasizes that the information being shared is important and should not be missed.

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  • Current Version
  • Mar 10, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Feb 21, 2022
    Quiz Created by
    Alfredhook3
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