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






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






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






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






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






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






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






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






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






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






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






12. 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


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






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






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






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






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






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






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






20. Which of the following is an internal problem that can contribute to the failure of a business?






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






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






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






24. Which of the following is an intangible asset?






25. 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...






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






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






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






29. 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...






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






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






32. A source of debt capital would include






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






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






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






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






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






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






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






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






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






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






43. 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...






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






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






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






47. A small business is not...






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






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






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