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






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






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






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






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






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






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






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






10. Rent is an example of a...






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






12. 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...






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






14. In business - a reduction of selling price below the original selling price is referred to as...






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






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






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






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






19. Business interruption insurance covers






20. 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...






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






22. Factors associated with evaluating a credit risk






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






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






25. Which of the following are advantages of a sole proprietorship?






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






27. Which of the following are advantages of a partnership?






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






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






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






31. Legislation that guarantees disabled people equal access to employment - as well as access to public places - is known as...






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






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






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






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






36. Which of the following is an internal problem that can lead to business failure?






37. 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...






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






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






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






41. A common business credit/sales tern is...






42. A small business is not...






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






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






45. 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...






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






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






48. 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...






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

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