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






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






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






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






5. 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...






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






7. 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...






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






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






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






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






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






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






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






15. A management function which compares organization and individual performance with predetermined standards or expected results is known as...






16. On a chart which plots sales - fixed and variable costs for a given period of time - the point where the sales and the total cost lines intersect is called the...






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






48. 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...






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






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







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Can you answer 50 questions in 15 minutes?


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