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






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






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






4. 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...






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






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






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






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






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






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






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

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






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






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






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






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






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






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






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






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






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






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






23. Which of the following is an intangible asset?






24. 2/10 - N/30 means...






25. 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...






26. 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...






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






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






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






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






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






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






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






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






35. Factors associated with evaluating a credit risk






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






37. A particular business that provides a service as opposed to a product is referred to as a...






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






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






40. Which of the following are disadvantages of a partnership?






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






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






43. 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...






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






45. Business interruption insurance covers






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






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






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






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






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







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Can you answer 50 questions in 15 minutes?


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