QuickTest Professional (QTP) Question:

Test—A collection of steps organized into one or more actions, which are used to verify that your application performs as expected. By default each test begins with a single action. Business Component—A collection of steps representing a single task in your application. Business components (also known as components) are combined into specific scenarios to build business process tests in Mercury Quality Center with Business Process Testing. A component does not contain actions, you add steps directly to a componenet.