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. 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...






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






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






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






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






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






7. Which of the following federal laws affecting employment concerns prohibits wage discrimination based on the sex of the worker?






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






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






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






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






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






13. Business interruption insurance covers






14. 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...






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






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






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






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






19. In a business - the number of times the average inventory is sold or used up can be referred to as...






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






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






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






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

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






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






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






27. Rent is an example of a...






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






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






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






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






32. Factors associated with evaluating a credit risk






33. Which of the following is an intangible asset?






34. 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...






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






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






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






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






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






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






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






42. A small business is not...






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






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






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






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






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






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






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






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