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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. Which of the following are functions of management?






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






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






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






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






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






7. Which of the following is normally NOT a source of published market data?






8. 2/10 - N/30 means...






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






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






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






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






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






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






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






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






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






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






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

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






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






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






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






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






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






26. 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...






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






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






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






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






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






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






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






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






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






36. 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...






37. Which of the following is an intangible asset?






38. 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...






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






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






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






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






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






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






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






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






47. Rent is an example of a...






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






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






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







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Can you answer 50 questions in 15 minutes?


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