Test your basic knowledge |

Small Business Management

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Legislation that guarantees disabled people equal access to employment - as well as access to public places - is known as...






2. A common business credit/sales tern is...






3. Factors associated with evaluating a credit risk






4. The principal government agency concerned with the financing - operation - and management of small businesses is the






5. An interview whereby the applicant is asked a pre-determined set of questions is known as...






6. A factor to be considered with the evaluation of a credit risk would be the...






7. The simplest and most common legal form of business ownership is...






8. A business that purchases finished goods for resale is referred to as a...






9. Any credit that is extended from one business to another in order to help finance the distribution of goods from the producer is called...






10. The form of legal organization that is owned and operated by one person is the...






11. The art of making the public aware of one's products and/or services that are for sale can be referred to as...






12. Which of the following acts outlaws discrimination in employment based on race - color - religion - sex - pregnancy - or natural origin?






13. Long-term capital that is invested in a business is referred to as...






14. Which of the following is NOT included on the employment application?


15. Long term capital invested in the business is...






16. Which of the following are advantages of a partnership?






17. The difference between current assets and current liabilities is...






18. Which of the following are disadvantages of a sole proprietorship?






19. Which of the following is a requirement for a building layout?






20. A BFOQ is...






21. Whenever a business must pay for the merchandise before its delivery - which of the sales terms apply?






22. A legal form of organization whereby a legal entity is authorized by a state to operate a business under the entity's charter or articles of incorporation is known as a...






23. Capital that is investe4d in the business by the owner(s) is known as...






24. A business that makes finished goods from raw materials by hand or machinery is referred to as a...






25. An external problem that can lead to small business failure is...






26. The difference between merchandise cost and the selling price is known as the...






27. In a business - the number of times the average inventory is sold or used up can be referred to as...






28. Which of the following are advantages of extending credit?






29. Business interruption insurance covers






30. Which of the following are functions of management?






31. Which of the following is NOT a way to reduce risks?






32. Which of the following are disadvantages of a partnership?






33. A management function which compares organization and individual performance with predetermined standards or expected results is known as...






34. Life insurance that protects a firm against losses due to the death of a key employee is known as...






35. The quantity to be purchased which minimizes total cost is referred to as the...






36. A governmental agency with the responsibility for regulatory and enforcement of safety and health matters for most United States employees - is known as...






37. An individual that assumes the risks associated with a new venture start-up can be referred to as a...






38. Which of the following is not a consideration concerning the selection of suppliers?






39. The main objective in a market survey is...






40. The type of consumer credit where the balance is paid in small monthly (fractional) payments over a period of time is...






41. A strategy to minimize risk would be to...






42. Which of the following is NOT a type of consumer credit?






43. One who organizes - manages - and assumes the risk of a business form or venture is known as...






44. All of the following are factors which can affect the recruitment and selection of employees except






45. 2/10 - N/30 means...






46. Any capital that is invested in a business by the owner(s) can be called...






47. Which of the following refers to those activities which encourage subordinates to work toward the achievement of the company's goals?






48. Which of the following has the disadvantage of no limit being placed on the owner's personal liability?






49. Which of the following are disadvantages of a corporation?






50. A group of potential customers that are recognized as possessing purchasing power and unsatisfied needs defines...