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






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

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3. Factors associated with evaluating a credit risk






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






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






6. Rent is an example of a...






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






23. Which of the following are functions of management?






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






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






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 is normally NOT a source of published market data?






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






29. A small business is not...






30. A source of debt capital would include






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






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






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






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






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






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






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






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






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






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






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






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






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






44. Which of the following is an intangible asset?






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






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






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






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






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






50. Which of the following are advantages of extending credit?







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