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






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






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






4. Which of the following is an intangible asset?






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






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






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






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






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






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






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






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






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






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






15. A BFOQ is...






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






17. Business interruption insurance covers






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






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 normally NOT a source of published market data?






21. Which of the following are functions of management?






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






23. 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...






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






25. The association of business firms that promotes ethical conduct by all business firms in a community is known as the...






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






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






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






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






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






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






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






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






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






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






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






37. 2/10 - N/30 means...






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






39. A small business is not...






40. The wealth produced in or near a community that provides employment and income to the local population is known as 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. An association of business people who attempt to protect and promote the commercial interests in a community is known as the...






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






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






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






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






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






48. A source of debt capital would include






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






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