Getting Down to Business Trivia Quiz

Answer: manger

Generally speaking, a manager is someone who oversees and/or is in charge of a particular department within an office or business. For instance, an accounts manager or a personnel manager. General managers can be thought of as the manager's manager, in the sense that they oversee all the departments within that office.

Answer: fun

A fund is a source of money. As a verb, it can also mean to provide money for something, as in funding a computer upgrade. There's many types of funds that you might find in a business environment like a superannuation/pension fund (money set aside for after retirement) or a trust fund (money set aside for safekeeping until something happens, such as a child turning 18).

Answer: emo

Short for memorandum, a memo is basically just a note or brief message, intended to serve as a small reminder of something. Your boss might ask you to "take a memo" or you might send a memo to someone else to remind them to restock the stationery cupboard.

Answer: debt

In terms of accounting, there are debits and credits. Broadly speaking, a debit is an amount of money paid out of an account and a credit is an amount paid into an account. One of the basic tenets of accounting is to ensure that the debits and the credits match up on your balance sheet so that all movements of money, in and out, are accounted for.

Answer: inter

Interns are typically students or graduates hoping to get their foot in the door by participating in work experience or work placement at an office or a business. It's not uncommon for an intern to be offered a job after their placement is up, should the management be suitably impressed with their work.

Answer: party

To be in parity with something is to be equal in amount. This term is commonly used when referring to currencies and exchange rates. For instance, parity between two different currencies would mean they exchange at a 1:1 rate, meaning a particular amount of one would be exactly equivalent to the same amount of the other.

Answer: cot

Almost everything in the world comes with some sort of cost. In a business environment, that cost is usually money. A particular item may have a high cost, but it could be a valuable asset to the company. Good accounting and budgeting practices ensure costs don't outweigh benefits.

Answer: budge

A budget, put simply, is a plan for spending. Usually calculated around the start of each new fiscal year, an office might have a certain amount of money available for that financial twelve-month period, which it may share amongst its various departments, giving them their own individual budgets. From a more domestic perspective, your family might have a weekly shopping budget or a budget on Christmas present buying.

Answer: consume

A consumer is someone (or something) that consumes. Typically, consumers are those who will using a particular product. Marketing is an important part of business to entice others into being consumers of your product. More consumers means more revenue.

Answer: gin

Loosely speaking, a business might do something in the hope of financial gain. When gains or earnings outweigh expenses, you've got yourself a profit. Similarly, an employee might do something (selfish or otherwise) for personal gain, such as for a promotion or a pay rise.

Answer: sock

You might have heard of a stock market or stock exchange. It's a place where stocks and shares are purchased, sold off, and traded. A stock is a sum of money that has been invested in a company by a shareholder in exchange for, say, a portion of the company's profits.

Answer: lability

Broadly speaking, liabilities are things which are not useful (such as debts or under-performing employees), as opposed to the more useful assets. Businesses try to minimise liabilities as much as possible, because they can affect their profits and that's ultimately what businesses work for.

Answer: gods

Goods are tangible items that a company may use for various purposes, either for their own consumption or for sale to others. Services are intangible and are performed by people. Goods and services can be amongst a company's assets but are also subject to taxation in some countries (such as Goods and Services Tax or Value Added Tax).

Answer: divided

The aforementioned shareholders receiving portions of a company's profits would be receiving dividends. Dividends are usually paid out at regular intervals and, for some, are the primary reason why they choose to invest in a company in the first place. From a mathematical point of view, a dividend is a larger number to be divided rather than the the result of the division, which would be a quotient.

Answer: administration

Administration is the job of making sure an office or a business stays running. Often shortened to admin, it's the day-to-day management of affairs, such as managing employees and other personnel and keeping finances in order. Administration is a vital part of keeping a business running efficiently. Without administration, there's little to no order.