Common Business Acronyms Quiz

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Questions: 10 | Attempts: 1,585 | Updated: Mar 10, 2023

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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.

Questions and Answers

1.

What does "TBH" mean?
- A.
  
  Try both highways
- B.
  
  Try (to) be humble
- C.
  
  To be honest
Correct Answer
C. To be honest

Explanation
TBH is an acronym that stands for "to be honest". It is commonly used in casual conversations, especially in online messaging or social media platforms. When someone uses TBH, they are indicating that they are about to express their genuine thoughts or opinions on a particular topic. It is a way to emphasize sincerity or authenticity in communication.

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2.

BID stands for ----
- A.
  
  Bring it down
- B.
  
  Break it down
- C.
  
  Brought it down
Correct Answer
B. 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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1
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3.

Which acronym can mean all these? Keep me posted. Give me a shout. Give me a heads-up. Keep me informed.
- A.
  
  LMK
- B.
  
  KMI
- C.
  
  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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4.

What does OOO mean in business?
- A.
  
  Hugs (as in "hugs and kisses": oxox)
- B.
  
  Opportunity occurring online
- C.
  
  Out of office
Correct Answer
C. 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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5.

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.
- A.
  
  ICYMI
- B.
  
  FYIP
- C.
  
  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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6.

FWIW stands for
- A.
  
  For what it’s worth
- B.
  
  For why it’s worth
- C.
  
  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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7.

What is the full form of "AAR"?
- A.
  
  Average Annual Return
- B.
  
  Average Annual Rate
- C.
  
  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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8.

ETA stands for
- A.
  
  Expected time of arrival
- B.
  
  Estimated time of action
- C.
  
  Estimated time of arrival
Correct Answer
C. 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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9.

BOP stands for
- A.
  
  Balance of Payments
- B.
  
  Business Order Pay
- C.
  
  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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10.

SMART stands for
- A.
  
  Specific, machine, attainable, realistic, time-bound
- B.
  
  Start, measurable, attainable, realistic, time-bound
- C.
  
  Specific, measurable, attainable, realistic, time-bound
Correct Answer
C. 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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Current Version
Mar 10, 2023

Quiz Edited by
ProProfs Editorial Team
Feb 21, 2022

Quiz Created by
Alfredhook3

Common Business Acronyms Quiz

What does "TBH" mean?

BID stands for ----

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

What does OOO mean in business?

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.

FWIW stands for

What is the full form of "AAR"?

ETA stands for

BOP stands for

SMART stands for