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 small business is not...






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






3. 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...






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






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






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






7. Which of the following are functions of management?






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






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






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






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






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






13. 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...






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






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






16. 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...






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






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






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






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






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






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






23. 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...






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






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






26. Which of the following acts outlaws discrimination in employment based on race - color - religion - sex - pregnancy - or natural origin?






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






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






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






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






31. The current asset items consisting of cash - inventories - and accounts receivables is known as...






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






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






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






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






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






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






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






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






40. The form of legal organization that is owned and operated by one person is the...






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






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






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






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






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






46. Which of the following are advantages of extending credit?






47. 2/10 - N/30 means...






48. Which of the following is an intangible asset?






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






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







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


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests