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






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






3. The combination of two or more individual's talents and capital serves as an advantage of the legal form of ownership known as a...






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


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






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






7. The practice of trying to get something that is being sought by others under similar circumstances at the same time is known as...






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






9. A small business is not...






10. A line of credit that may b e used over and over again up to a certain borrowing limit is called...






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






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






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






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






15. Rent is an example of a...






16. Which of the following are functions of management?






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


18. The statistical study of human populations with respect to their size - density - distribution - composition - and income is known as...






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






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






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






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






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






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






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






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






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






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






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






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






31. 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...






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






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






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






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






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






37. In business - the name - goodwill - copyrights - and patents are referred to as...






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






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






40. Factors associated with evaluating a credit risk






41. Which of the following is recognized as a disadvantage of extending credit?






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






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






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






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






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






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






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






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






50. 2/10 - N/30 means...