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






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






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






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






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






6. A BFOQ is...






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






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






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






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






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






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






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






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






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






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






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






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






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






20. Rent is an example of a...






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






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






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






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






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






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






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






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






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






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






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

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32. 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...






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






34. A small business is not...






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






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






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






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






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






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






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






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






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






44. 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...






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






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






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






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






49. A source of debt capital would include






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