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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. 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...






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






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






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






5. Which of the following are functions of management?






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






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






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






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






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






11. A small business is not...






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






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






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






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






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






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






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






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






20. Rent is an example of a...






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






22. Long term capital invested in the business 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 management function which compares organizational and individual performance with predetermined standards or expected results is...






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






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






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






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






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






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






31. 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...






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






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






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






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

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






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






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






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






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






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






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

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43. Factors associated with evaluating a credit risk






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






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






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






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






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






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






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







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