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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. Business interruption insurance covers






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






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






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






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






6. 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...






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






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






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






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






11. Factors associated with evaluating a credit risk






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






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






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






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






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

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






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






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






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






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






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






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






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






25. A BFOQ is...






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






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






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






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






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






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






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 NOT used to measure the success of advertising?






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

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






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






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






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






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






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






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






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






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






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






45. 2/10 - N/30 means...






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






47. 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...






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






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






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







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Can you answer 50 questions in 15 minutes?


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