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 a...






2. 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...






3. Which of the following are functions of management?






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






5. 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...






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






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






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






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






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






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






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






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






14. Which of the following is an intangible asset?






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






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






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






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






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






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






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






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






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






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






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






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






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






28. Business interruption insurance covers






29. Factors associated with evaluating a credit risk






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






31. 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...






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






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






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






35. Whenever a business must pay for the merchandise before its delivery - which of the sales terms apply?






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






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






38. A BFOQ is...






39. Life insurance that protects a firm against losses due to the death of a key employee is known as...






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






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






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






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






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






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






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






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






48. 2/10 - N/30 means...






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






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