Test Your Knowledge About Business
This a a quiz on the key terms that was assigned for "the business organization"
Questions and Answers
- 1.
What U.S. department store declared bankruptcy in 2001?
- A.
Wal-Mart
- B.
Marshall Fields
- C.
Kmart
- D.
Target
Correct Answer
C. KmartExplanation
Kmart declared bankruptcy in 2001. This department store faced financial difficulties and was unable to repay its debts, leading to the bankruptcy filing. This event had a significant impact on the retail industry and marked a decline for Kmart, which struggled to compete with other department stores.Rate this question:
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- 2.
In what industry did the DuPont family originally make its fortune?
- A.
Copper Wiring
- B.
Explosives
- C.
Fuel
- D.
Weapons
Correct Answer
B. ExplosivesExplanation
The DuPont family originally made its fortune in the explosives industry. They were known for their invention and production of gunpowder and dynamite, which played a significant role in various industries such as mining, construction, and warfare. Their expertise in explosives allowed them to establish a successful business empire and become one of the wealthiest families in the United States.Rate this question:
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- 3.
What year did the stock market crash to foreshadow the "Great Depression"?
- A.
1930
- B.
1927
- C.
1920
- D.
1929
Correct Answer
D. 1929Explanation
The stock market crash that foreshadowed the "Great Depression" occurred in 1929. This event, known as Black Tuesday, led to a significant decline in stock prices and had a devastating impact on the economy. It marked the beginning of a prolonged period of economic downturn and high unemployment rates, which became known as the Great Depression.Rate this question:
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- 4.
In what year was Apple Corporation formed?
- A.
1994
- B.
1998
- C.
1960
- D.
1976
Correct Answer
D. 1976Explanation
Apple Corporation was formed in 1976. This was the year when Steve Jobs, Steve Wozniak, and Ronald Wayne founded the company in Cupertino, California. They started by building and selling the Apple I computer, which was the beginning of what would later become one of the most successful technology companies in the world.Rate this question:
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- 5.
What is the major stock market index in Japan called?
- A.
Nippon
- B.
Nikkei 225
- C.
JSM
- D.
Nintendo
Correct Answer
B. Nikkei 225Explanation
The major stock market index in Japan is called Nikkei 225. This index represents the top 225 companies listed on the Tokyo Stock Exchange and is widely used as a barometer of the Japanese stock market. It provides investors with a snapshot of the overall performance of the Japanese economy and is an important indicator for both domestic and international investors.Rate this question:
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- 6.
What did Jacob Schick patent in 1928?
- A.
The Electric Hand Car
- B.
The Trolly
- C.
The Electric Elevator
- D.
The Electric Razor
Correct Answer
D. The Electric RazorExplanation
Jacob Schick patented the Electric Razor in 1928. This invention revolutionized the way people shaved by providing a convenient and efficient method for removing facial hair. The Electric Razor replaced traditional manual razors, reducing the risk of cuts and providing a smoother and more comfortable shaving experience. This invention had a significant impact on personal grooming and became a popular tool for both men and women worldwide.Rate this question:
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- 7.
What is the #1 sewing machine manufacturer in the US?
- A.
Singer
- B.
Wal-Mart
- C.
Sears
- D.
Wesco
Correct Answer
A. SingerExplanation
Singer is the correct answer because it is widely recognized as the number one sewing machine manufacturer in the US. Singer has a long history and reputation for producing high-quality sewing machines that are durable and reliable. They have a wide range of models to choose from, catering to different sewing needs and skill levels. Additionally, Singer sewing machines are widely available and can be found in many retail stores and online platforms. Overall, Singer's dominance in the sewing machine market and its strong brand recognition make it the number one choice for many consumers in the US.Rate this question:
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- 8.
Which industry was hurt the worst by the September 11th attacks?
- A.
Travel
- B.
Sales
- C.
Restaurant
- D.
Auto
Correct Answer
A. TravelExplanation
The September 11th attacks had a significant impact on the travel industry. The attacks led to increased security measures and fear of flying, which resulted in a decrease in air travel. Many people canceled their travel plans, and airlines faced financial difficulties. Additionally, the attacks also affected other aspects of the travel industry, such as tourism and hotel bookings, as people became hesitant to travel. Therefore, it can be concluded that the travel industry was hurt the worst by the September 11th attacks.Rate this question:
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- 9.
What game system was released by Microsoft in 2001 to compete with Sony and Nintendo?
- A.
Mac-1
- B.
Micro-Box
- C.
Xbox
- D.
PlayStation 2
Correct Answer
C. XboxExplanation
In 2001, Microsoft released the Xbox game system as a direct competitor to Sony and Nintendo. This console aimed to provide gamers with a high-quality gaming experience and a wide range of games. The Xbox quickly gained popularity and became a significant player in the gaming industry, offering strong competition to its rivals.Rate this question:
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- 10.
What company owns the Cadillac, Buick and Pontiac brands?
- A.
Ford
- B.
Chrysler
- C.
Saturn
- D.
GM
Correct Answer
D. GMExplanation
GM, or General Motors, is the correct answer because it is the parent company that owns the Cadillac, Buick, and Pontiac brands. GM is a multinational corporation based in the United States and is one of the largest automobile manufacturers in the world. It has a wide range of brands under its umbrella, including Chevrolet, GMC, and Cadillac.Rate this question:
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- 11.
Francesco Mengozzi was the CEO of what European airline?
- A.
Air Germany
- B.
United Europe
- C.
Alitalia S.p.A.
- D.
Brittania Air
Correct Answer
C. Alitalia S.p.A.Explanation
Francesco Mengozzi was the CEO of Alitalia S.p.A., an Italian airline.Rate this question:
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- 12.
Who is the designer of the L.A.M.B. clothing line?
- A.
Gwen Stefani
- B.
Heidi Klum
- C.
Halle Berry
- D.
Sienna Miller
Correct Answer
A. Gwen StefaniExplanation
Gwen Stefani is the correct answer because she is the designer of the L.A.M.B. clothing line. L.A.M.B. stands for Love. Angel. Music. Baby., which is also the title of Stefani's debut solo album. She launched the clothing line in 2003, combining her love for fashion and music. Stefani's unique style and influence can be seen in the designs of the L.A.M.B. brand, making her the designer behind it.Rate this question:
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- 13.
When Microsoft introduces a new product, what kind of party do they throw?
- A.
Get Over Yourself
- B.
Rollover
- C.
Rollout
- D.
Jump Down
Correct Answer
C. RolloutExplanation
When Microsoft introduces a new product, they typically throw a rollout party. A rollout refers to the process of introducing a new product or service to the market. This involves various activities such as marketing campaigns, press releases, and events to create awareness and generate excitement among customers. Therefore, a rollout party is a suitable way for Microsoft to celebrate the launch of their new product and engage with their audience.Rate this question:
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- 14.
Who is Peter Bacanovic?
- A.
Martha Stewart's Stockbroker
- B.
Martha Stewart's Lawyer
- C.
Enron Accountant
- D.
Movie Director
Correct Answer
A. Martha Stewart's StockbrokerExplanation
Peter Bacanovic is known for being Martha Stewart's stockbroker. He gained significant attention during the Martha Stewart insider trading scandal in 2001. Bacanovic was accused of providing insider information to Stewart, which she used to sell her shares of ImClone Systems before the stock price dropped. He was convicted of conspiracy, obstruction of justice, and perjury in 2004, along with Stewart. Bacanovic's role as Stewart's stockbroker and his involvement in the high-profile case solidify his identity as Martha Stewart's stockbroker.Rate this question:
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- 15.
What percent of all businesses in the United States are franchises?
- A.
25 Percent
- B.
1 Percent
- C.
5 Percent
- D.
75 Percent
Correct Answer
A. 25 PercentExplanation
Approximately 25 percent of all businesses in the United States are franchises. This means that one-fourth of the businesses in the country operate under a franchise model, where individuals or companies purchase the rights to use an established brand and business model. Franchises offer entrepreneurs the opportunity to start a business with the support and resources of an established brand, making them a popular choice for many aspiring business owners.Rate this question:
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This acquisition test is for you if you are a business student!
This acquisition test is for you if you are a business student!
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