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. Which of the following is an example of a variable expense?






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






3. Which of the following laws prohibits discrimination against any qualified individual with a disability?

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






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






6. Which of the following would NOT be an insurance risk to consider?






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






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






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






10. The wealth produced in or near a community that provides employment and income to the local population is known as the...






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






12. Factors associated with evaluating a credit risk






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






14. Capital that is invested in the business by the owner(s) is known as...






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






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






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






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






19. Which of the following is an intangible asset?






20. Which of the following statements is TRUE concerning consumer credit?






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






22. A strategy available to absorb risks would be...






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






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






25. 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...






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






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






28. The number of times the average inventory has been sold or used up during a period is known as...






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






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






31. 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...






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






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






34. 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...






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






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






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






38. A management function which compares organizational and individual performance with predetermined standards or expected results is...






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






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






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






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






43. Which of the following is an internal problem that can contribute to the failure of a business?






44. 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...






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






46. A plan which provides inducements to potential purchasers of products and/or services is called...






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






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






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






50. 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...