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






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






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






4. Business interruption insurance covers






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






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






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






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






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






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






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






12. 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...






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






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






15. A source of debt capital would include






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






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






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






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






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






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






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






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






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






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






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






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


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






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






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






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






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






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






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






35. Rent is an example of a...






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






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






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






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






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






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






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






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






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






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






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






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






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






49. Which of the following are disadvantages of a partnership?






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