Business Terms Quiz

Study Notes

Terminology and Definitions

Ab Initio: A Latin term meaning "from the beginning," often used in legal contexts to indicate that something is considered from the outset.
Addenda: Refers to any list of revisions, additions, or edits made to a business report to clarify or update information.
Ad Hoc: Pertains to a solution or arrangement created for a specific purpose or task, rather than for general use.
Ad Valorem: A term commonly used in taxation, meaning "according to the value." It implies that the tax or fee is based on the assessed value of an asset or service.
Apropos: Indicates relevance or context regarding a particular subject or event.
Avant-garde: Describes ideas, styles, or movements that are innovative, modern, and at the forefront of cultural progress.
Bona Fide: Refers to authenticity or sincerity, meaning "with truth in itself" or honest in nature.
Bizarre: Characterizes something that is strange or unusual, often in a way that is unexpected.
Bon-Voyage: A well-wishing phrase meaning "have a nice journey" or "have a nice day."
Circa: Used to indicate approximate dates or figures, translating to "around."
Corrigenda: A specific list that enumerates errors for correction in a report, distinct from addenda.
Coup d’etat: Denotes a sudden and often violent seizure of power by a small group, typically overthrowing an influential leader or government.
Debacle: Refers to a sudden and complete downfall or failure, often in a dramatic manner.
De Facto: Indicates a situation that exists in reality, even if not legally recognized; "not intended to."
De Jure: Means "by law" or "by right," referring to something that is legally recognized regardless of the reality.
Détente: A term used to describe a relaxing of tensions and an establishment of friendly relations, often between countries.
Elite: Describes a select group of people with superior quality, often in terms of talent or socio-economic status.
Em Mass: Refers to actions taken collectively or as a group, emphasizing unity in purpose.
Entourage: The group of people accompanying and assisting an influential individual, providing support or companionship.
Esprit de corps: Refers to a sense of unity, camaraderie, and teamwork among members of a group.
Bonhomie: Represents a friendly, easy-going attitude that fosters relationships and social interactions.
Ex officio: Denotes a right or privilege derived from one’s official position or role in an organization.
Ex parte: Refers to decisions or communications that involve only one party, typically without the other party's presence or argument.
Fait Accompli: Indicates a situation that has already been decided or completed, making reversal impossible; "something done."
Faux pas: Refers to a social blunder or mistake that is considered embarrassing.
Impasse: Denotes a point of deadlock where no progress can be made, often in negotiations or discussions.
In Memoriam: A phrase used to honor and remember someone who has passed away.
In toto: A term meaning "as a whole" or "entirety," referring to completeness.
Ipso Facto: A legal term meaning "by the fact itself" or "as a direct consequence," often used to establish a clear cause-and-effect relationship.
Inter Alia: A Latin term meaning "among other things," often used to indicate that other factors or items are included but not specifically listed.

Description

Test your knowledge of important business terminology with this quiz. From ad valorem to coup d'état, explore the meanings of various terms used in the business and economic world. See how well you understand these essential concepts.