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






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






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






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






5. A BFOQ is...






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






7. 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...






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






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






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






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






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






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






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






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






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






17. 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...






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






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






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






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






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






23. 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...






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






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






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






27. 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...






28. 2/10 - N/30 means...






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






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






31. Which of the following is NOT a way to reduce risks?






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






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






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






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






36. Which of the following acts outlaws discrimination in employment based on race - color - religion - sex - pregnancy - or natural origin?






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






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 are disadvantages of a corporation?






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






41. A small business is not...






42. Business interruption insurance covers






43. Which of the following are functions of management?






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






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






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






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






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






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






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