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






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






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






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






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






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






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






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






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






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






11. Which of the following would NOT be an insurance risk to consider?






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






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






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






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






16. A source of debt capital would include






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






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






19. 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...






20. Which of the following are functions of management?






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






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






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






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






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






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






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






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






29. The number of times the average inventory has been sold or used up during a period is known as...






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 has the disadvantage of no limit being placed on the owner's personal liability?






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






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






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






35. 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...






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






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






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






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






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






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






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






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






44. 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...






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






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






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






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






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






50. Business interruption insurance covers