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






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






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






4. 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...






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






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






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






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






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






10. A source of debt capital would include






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






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






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






14. A small business is not...






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






16. 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...






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






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






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






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






21. 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...






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






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

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






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






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






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. A BFOQ is...






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






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






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






32. Which of the following is an intangible asset?






33. Which of the following are functions of management?






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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