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






2. Business interruption insurance covers






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






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






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






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






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






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






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






10. A BFOQ is...






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






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






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






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






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






16. 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...






17. 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...






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

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






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






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






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






23. A source of debt capital would include






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






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






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






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






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






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






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






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






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






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






34. A form of legal organization in which a business association made up of two or more persons is formed for the purpose of carrying on as co-owners is known as a...






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






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






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






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






39. The form of legal organization that is owned and operated by one person is the...






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






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






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






43. Factors associated with evaluating a credit risk






44. Which of the following has the disadvantage of no limit being placed on the owner's personal liability?






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






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






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






48. Which of the following are functions of management?






49. Which of the following is an intangible asset?






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

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