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. A point in business operations whereby total sales revenue equals total costs






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






3. 2/10 - N/30 means...






4. Which of the following is NOT a consumer buying motive?






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






6. A cost which is uniform per unit - but fluctuates in total - in direct proportion to change in the related total activity or volume is known as...






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






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






9. Which of the following federal laws affecting employment concerns prohibits wage discrimination based on the sex of the worker?






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






11. When selecting employees - the applicant's appearance - poise - speech - and other characteristics may best be determined by...






12. A BFOQ is...






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






14. A document that lists the major responsibilities and tasks of the job is known as a job






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






16. Which of the following is normally NOT a source of published market data?






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






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






19. Which of the following are examples of debt capital?






20. 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...






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






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






23. A type of credit granted by retailers that is used by individuals or families for the satisfaction of their own wants is known as...






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






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






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






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






28. Any effort undertaken to retain and preserve the assets and earning power of a business is called...






29. 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...






30. Selling a business's accounts receivable for cash to a third party is referred to as...






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






32. A written description of a new idea that projects marketing - operational - and financial aspects of a proposed business is known as a...






33. On a chart which plots sales - fixed and variable costs for a given period of time - the point where the sales and the total cost lines intersect is called the...






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






35. Which of the following are advantages of a corporation?






36. Factors associated with evaluating a credit risk






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






38. A source of debt capital would include






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






40. Which of the following is NOT an advantage of a corporation?






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






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






43. An association of business people who attempt to protect and promote the commercial interests in a community is known as the...






44. The association of business firms that promotes ethical conduct by all business firms in a community is known as the...






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






46. A particular business that provides a service as opposed to a product is referred to as a...






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






48. Which of the following is an external problem and risk of business ownership?






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






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