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






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






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






4. Which of the following is an intangible asset?






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






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






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






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






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






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






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






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






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






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






15. 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...






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






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






18. Which of the following are functions of management?






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






35. Which of the following is NOT used to measure the success of advertising?






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






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






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






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

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






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






42. 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...






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






44. Factors associated with evaluating a credit risk






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






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






47. A small business is not...






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






49. Rent is an example of a...






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







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