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






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






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






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






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






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






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






8. A source of debt capital would include






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






10. A small business is not...






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






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






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






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






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






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






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






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






19. Business interruption insurance covers






20. 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...






21. 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...






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






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






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






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






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






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






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






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






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






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






32. Factors associated with evaluating a credit risk






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






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






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

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36. 2/10 - N/30 means...






37. Which of the following are functions of management?






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






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






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






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






42. Which of the following is recognized as a disadvantage of extending credit?






43. Rent is an example of a...






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






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






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






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






48. A BFOQ is...






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






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







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