SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
Small Business Management
Start Test
Study First
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. Which of the following is NOT an advantage of a corporation?
Legal restrictions on activities
Whether or not they have an acceptable accounts receivable ratio
break-even point
controlling; actuating
2. An association of business people who attempt to protect and promote the commercial interests in a community is known as the...
Directing
Chamber of Commerce
working capital; circulating capital
entrepreneur
3. If a prospective business owner attempts to statistically study such factors as human population size - density - distribution - and wealth - we should refer to this as...
demographics
proprietorship
evaluating; controlling
to determine where the potential customers are
4. Which of the following is an internal problem that can lead to business failure?
a qualification that is absolutely necessary
lost income
entrepreneur
Lack of expertise
5. Which of the following is NOT used to measure the success of advertising?
Take on more risks
merchandising business
Unlimited liability; Limited management ability
Income trends in the community
6. Capital that is invested in the business by the owner(s) is known as...
equity capital
a business plan
Census of banking
American's with Disabilities Act
7. Which of the following refers to those activities which encourage subordinates to work toward the achievement of the company's goals?
Commercial loans; Venture capitalists
the religion of the applicant
consumerism
Directing
8. Selling a business's accounts receivable for cash to a third party is referred to as...
Chamber of Commerce
factoring
proprietorship
service business
9. Rent is an example of a...
a structured interview
a business plan
Name of the business; Goodwill
fixed expense
10. Any effort undertaken to retain and preserve the assets and earning power of a business is called...
controlling
risk management
factoring
Personal checks
11. Which of the following is an internal problem that can contribute to the failure of a business?
Unlimited liability; Limited management ability
Financial shortages
Actively managed by stockholders
a 2% discount if invoice is paid within 10 days - net due in 30 days
12. When selecting employees - the applicant's appearance - poise - speech - and other characteristics may best be determined by...
the employment interview
equity capital
advertising
ADA
13. A management function which compares organization and individual performance with predetermined standards or expected results is known as...
fixed expense
revolving account; open-end credit
evaluating; controlling
OSHA
14. In organizing a business - a legal form of organization that is authorized by a state to operate a business under a state charter is referred to as a...
Lack of expertise
competition
factoring
corporation
15. A group of potential customers that are recognized as possessing purchasing power and unsatisfied needs defines...
working capital
market
partnership
fixed capital
16. The wealth produced in or near a community that provides employment and income to the local population is known as the...
market
economic base
to self-insure
partnership
17. Which of the following are advantages of a corporation?
Equal Pay Act of 1963
Large financial capacity; Limited liability of each owner (stockholder)
Some losses from bad debts and customers with fraudulent intentions are bound to occur
Personal checks
18. Which of the following acts outlaws discrimination in employment based on race - color - religion - sex - pregnancy - or natural origin?
the employment interview
Civil Rights Act
manufacturing business
controlling
19. A form of legal organization in which a business association made up of two or more persons is formed for the purpose of carrying on as co-owners is known as a...
Directing
economic base
partnership
Small Business Administration
20. Life insurance that protects a firm against losses due to the death of a key employee is known as...
competition
Personal checks
working capital
key person insurance
21. Which of the following are advantages of a partnership?
variable expense
Efficiency of labor; Combined management - talent and capital
Large financial capacity; Limited liability of each owner (stockholder)
Better Business Bureau
22. A particular business that provides a service as opposed to a product is referred to as a...
service business
American's with Disabilities Act
description
Applicant's sex
23. Which of the following are advantages of a sole proprietorship?
Unlimited liability; Limited management ability
Ease of starting; Profit incentive
Terms of the sale
working capital
24. Which of the following are functions of management?
revolving account; open-end credit
Equal Pay Act of 1963
controlling; actuating
Whether or not they have an acceptable accounts receivable ratio
25. Which of the following would NOT be an insurance risk to consider?
Directing
Civil Rights Act
proprietorship
Terms of the sale
26. Which of the following is an external problem and risk of business ownership?
Whether or not they have an acceptable accounts receivable ratio
Tax burdens; Human resource planning
equity capital
Actively managed by stockholders
27. Any credit that is extended from one business to another in order to help finance the distribution of goods from the producer is called...
fixed capital
trade credit
market
consumer credit
28. A written description of a new idea that projects marketing - operational - and financial aspects of a proposed business is known as a...
new venture plan; business plan
risk management
sole proprietorship
an entrepreneur
29. A strategy to minimize risk would be to...
have good management
partnership
key person insurance
Lack of expertise
30. The practice of trying to get something that is being sought by others under similar circumstances at the same time is known as...
Chamber of Commerce
controlling; actuating
Indemnity
competition
31. Which of the following are examples of debt capital?
markdown
Efficiency of labor; Combined management - talent and capital
a business plan
Commercial loans; Venture capitalists
32. The form of legal organization that is owned and operated by one person is the...
Income trends in the community
Civil Rights Act
sole proprietorship
proprietorship
33. The current asset items consisting of cash - inventories - and accounts receivables is known as...
circulating capital
equity capital; personal capital
Small Business Administration
Name of the business; Goodwill
34. Whenever a business must pay for the merchandise before its delivery - which of the sales terms apply?
sales promotions
corporation
Civil Rights Act
CBD
35. An individual that assumes the risks associated with a new venture start-up can be referred to as a...
Better Business Bureau
ADA
entrepreneur
Large financial capacity; Limited liability of each owner (stockholder)
36. Capital that is investe4d in the business by the owner(s) is known as...
Sales are increased; Goodwill is built-up and easily maintained
OSHA
service business
equity capital; personal capital
37. Which of the following are disadvantages of a sole proprietorship?
demographics
Unlimited liability; Limited management ability
Tax burdens; Human resource planning
the employment interview
38. An external problem that can lead to small business failure is...
Accessibility
consumerism
revolving account; open-end credit
a 2% discount if invoice is paid within 10 days - net due in 30 days
39. The number of times the average inventory has been sold or used up during a period is known as...
inventory turnover
equity capital
ADA
Unlimited liability; Limited management ability
40. A strategy available to absorb risks would be...
key person insurance
working capital; circulating capital
Legal restrictions on activities
to self-insure
41. A management function which compares organizational and individual performance with predetermined standards or expected results is...
advertising
Installment credit
controlling
market
42. Which of the following laws prohibits discrimination against any qualified individual with a disability?
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
43. The difference between current assets and current liabilities is...
working capital
break-even point
evaluating; controlling
the religion of the applicant
44. A business that makes finished goods from raw materials by hand or machinery is referred to as a...
manufacturing business
break-even point
controlling
Applicant's sex
45. A written description of a new idea that projects marketing - operational - and financial aspects of a proposed business is known as...
inventory control considerations
consumerism
a business plan
Applicant's sex
46. The association of business firms that promotes ethical conduct by all business firms in a community is known as the...
Better Business Bureau
to determine where the potential customers are
Some losses from bad debts and customers with fraudulent intentions are bound to occur
break-even point
47. A plan which provides inducements to potential purchasers of products and/or services is called...
Take on more risks
sales promotions
partnership
Small Business Administration
48. Which of the following is a requirement for a building layout?
American's with Disabilities Act
OSHA
Accessibility
factoring
49. A small business is not...
market
Actively managed by stockholders
Personal checks
Name of the business; Goodwill
50. Which of the following is not a consideration concerning the selection of suppliers?
Efficiency of labor; Combined management - talent and capital
Whether or not they have an acceptable accounts receivable ratio
Commercial loans; Venture capitalists
Repairs
Can you answer 50 questions in 15 minutes?
Let me suggest you:
Browse all subjects
Browse all tests
Most popular tests
Major Subjects
Tests & Exams
AP
CLEP
DSST
GRE
SAT
GMAT
Certifications
CISSP go to https://www.isc2.org/
PMP
ITIL
RHCE
MCTS
More...
IT Skills
Android Programming
Data Modeling
Objective C Programming
Basic Python Programming
Adobe Illustrator
More...
Business Skills
Advertising Techniques
Business Accounting Basics
Business Strategy
Human Resource Management
Marketing Basics
More...
Soft Skills
Body Language
People Skills
Public Speaking
Persuasion
Job Hunting And Resumes
More...
Vocabulary
GRE Vocab
SAT Vocab
TOEFL Essential Vocab
Basic English Words For All
Global Words You Should Know
Business English
More...
Languages
AP German Vocab
AP Latin Vocab
SAT Subject Test: French
Italian Survival
Norwegian Survival
More...
Engineering
Audio Engineering
Computer Science Engineering
Aerospace Engineering
Chemical Engineering
Structural Engineering
More...
Health Sciences
Basic Nursing Skills
Health Science Language Fundamentals
Veterinary Technology Medical Language
Cardiology
Clinical Surgery
More...
English
Grammar Fundamentals
Literary And Rhetorical Vocab
Elements Of Style Vocab
Introduction To English Major
Complete Advanced Sentences
Literature
Homonyms
More...
Math
Algebra Formulas
Basic Arithmetic: Measurements
Metric Conversions
Geometric Properties
Important Math Facts
Number Sense Vocab
Business Math
More...
Other Major Subjects
Science
Economics
History
Law
Performing-arts
Cooking
Logic & Reasoning
Trivia
Browse all subjects
Browse all tests
Most popular tests