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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






17. A small business is not...






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






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






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






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






22. 2/10 - N/30 means...






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






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






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






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






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






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






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






30. 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...






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






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






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






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






35. A strategy to minimize risk would be to...






36. Which of the following is an intangible asset?






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






38. A BFOQ is...






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






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






41. Factors associated with evaluating a credit risk






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






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






44. 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...






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






46. 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...






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






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






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






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






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