Test your basic knowledge |

Small Business Management

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. When selecting employees - the applicant's appearance - poise - speech - and other characteristics may best be determined by...
break-even point
Credit customers are more interested in quality and service than price
economic base
the employment interview

2. Which of the following is a requirement for a building layout?
to self-insure
sole proprietorship
break-even point
Accessibility

3. Any effort undertaken to retain and preserve the assets and earning power of a business is called...
economic order quantity
risk management
Some losses from bad debts and customers with fraudulent intentions are bound to occur
markdown

4. Which of the following is NOT used to measure the success of advertising?
equity capital
Income trends in the community
advertising
market

5. In a business - the number of times the average inventory is sold or used up can be referred to as...
demographics
Applicant's sex
2/10 - N30
inventory turnover

6. Which of the following is an internal problem that can lead to business failure?
Legal restrictions on activities; Lack of personal interest
Lack of expertise
Actively managed by stockholders
inventory turnover

7. The difference between merchandise cost and the selling price is known as the...
mark-up
market
advertising
break-even point

8. Whenever a business must pay for the merchandise before its delivery - which of the sales terms apply?
advertising
fixed expense
CBD
break-even point

9. Which of the following are advantages of a sole proprietorship?
Accessibility
Proprietorship
Ease of starting; Profit incentive
OSHA

10. Which of the following is NOT a way to reduce risks?
Large financial capacity; Limited liability of each owner (stockholder)
Personal checks
Take on more risks
a qualification that is absolutely necessary

11. A document that lists the major responsibilities and tasks of the job is known as a job
Financial shortages
description
Unlimited liability; Limited management ability
Sales are increased; Goodwill is built-up and easily maintained

12. Which of the following is an example of a variable expense?
partnership
equity capital
markdown
Repairs

13. Which of the following is not a consideration concerning the selection of suppliers?
controlling; actuating
Whether or not they have an acceptable accounts receivable ratio
economic base
merchandising business

14. Which of the following are disadvantages of a partnership?
new venture plan; business plan
fixed capital
intangible assets
Divided authority among partners; Death or incapacity of one of the partners may end the partnership

15. 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...
break-even point
corporation
have good management
Financial shortages

16. A small business is not...
Accessibility
corporation
Divided authority among partners; Death or incapacity of one of the partners may end the partnership
Actively managed by stockholders

17. 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...
inventory turnover
demographics
factoring
Take on more risks

18. All of the following are factors which can affect the recruitment and selection of employees except
CBD
the religion of the applicant
factoring
corporation

19. Which of the following is recognized as a disadvantage of extending credit?
ADA
Some losses from bad debts and customers with fraudulent intentions are bound to occur
Income trends in the community
competition

20. Which of the following is an internal problem that can contribute to the failure of a business?
Accessibility
Applicant's sex
Financial shortages
to self-insure

21. Business interruption insurance covers
Small Business Administration
merchandising business
lost income
have good management

22. Which of the following is an intangible asset?
Sales are increased; Goodwill is built-up and easily maintained
economic base
a 2% discount if invoice is paid within 10 days - net due in 30 days
Name of the business; Goodwill

23. Long term capital invested in the business is...
Chamber of Commerce
fixed capital
demographics
ADA

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

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183

25. The current asset items consisting of cash - inventories - and accounts receivables is known as...
a 2% discount if invoice is paid within 10 days - net due in 30 days
lost income
circulating capital
partnership

26. Which of the following is normally NOT a source of published market data?
a 2% discount if invoice is paid within 10 days - net due in 30 days
Census of banking
inventory turnover
partnership

27. One who organizes - manages - and assumes the risk of a business form or venture is known as...
Indemnity
inventory turnover
an entrepreneur
demographics

28. The form of legal organization that is owned and operated by one person is the...
proprietorship
Legal restrictions on activities; Lack of personal interest
demographics
demographics

29. A source of debt capital would include
advertising
commercial loans
revolving account; open-end credit
merchandising business

30. The art of making the public aware of one's products and/or services that are for sale can be referred to as...
economic order quantity
fixed expense
Some losses from bad debts and customers with fraudulent intentions are bound to occur
advertising

31. A strategy available to absorb risks would be...
fixed capital
Ease of starting; Profit incentive
to self-insure
variable expense

32. The association of business firms that promotes ethical conduct by all business firms in a community is known as the...
Better Business Bureau
have good management
controlling; actuating
OSHA

33. Factors associated with evaluating a credit risk
the religion of the applicant
Legal restrictions on activities; Lack of personal interest
Directing
inventory control considerations

34. Any credit that is extended from one business to another in order to help finance the distribution of goods from the producer is called...
Equal Pay Act of 1963
trade credit
break-even point
a 2% discount if invoice is paid within 10 days - net due in 30 days

35. A common business credit/sales tern is...
working capital
2/10 - N30
controlling
consumerism

36. Which of the following is NOT a type of consumer credit?
demographics
Name of the business; Goodwill
Personal checks
demographics

37. The simplest and most common legal form of business ownership is...
sole proprietorship
risk management
proprietorship
merchandising business

38. 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...
2/10 - N30
partnership
American's with Disabilities Act
Proprietorship

39. In business - a reduction of selling price below the original selling price is referred to as...
Actively managed by stockholders
markdown
an entrepreneur
credit application

40. A written description of a new idea that projects marketing - operational - and financial aspects of a proposed business is known as a...
Credit customers are more interested in quality and service than price
key person insurance
new venture plan; business plan
consumer credit

41. The principal government agency concerned with the financing - operation - and management of small businesses is the
Small Business Administration
intangible assets
the religion of the applicant
new venture plan; business plan

42. 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...
fixed capital
Accessibility
Credit customers are more interested in quality and service than price
break-even point

43. Which of the following federal laws affecting employment concerns prohibits wage discrimination based on the sex of the worker?
Equal Pay Act of 1963
trade credit
Proprietorship
corporation

44. The statistical study of human populations with respect to their size - density - distribution - composition - and income is known as...
competition
Name of the business; Goodwill
demographics
the religion of the applicant

45. A factor to be considered with the evaluation of a credit risk would be the...
Equal Pay Act of 1963
credit application
controlling
American's with Disabilities Act

46. Legislation that guarantees disabled people equal access to employment - as well as access to public places - is known as...
advertising
ADA
Applicant's sex
sales promotions

47. Rent is an example of a...
new venture plan; business plan
2/10 - N30
fixed expense
demographics

48. A point in business operations whereby total sales revenue equals total costs
Lack of expertise
have good management
break-even point
economic base

49. 2/10 - N/30 means...
the religion of the applicant
Actively managed by stockholders
a qualification that is absolutely necessary
a 2% discount if invoice is paid within 10 days - net due in 30 days

50. Which of the following would NOT be an insurance risk to consider?
service business
Terms of the sale
entrepreneur
the religion of the applicant

Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?

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

Test your basic knowledge |

Small Business Management

Sorry!:) No result found.

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

Certifications

IT Skills

Business Skills

Soft Skills

Vocabulary

Languages

Engineering

Health Sciences

English

Math

Other Major Subjects

Browse all subjects

Browse all tests

Most popular tests