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






2. A source of debt capital would include






3. Selling a business's accounts receivable for cash to a third party is referred to as...






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






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






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

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






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






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






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






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






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






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






14. 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...






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






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






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






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






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






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






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






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

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23. A small business is not...






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






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






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






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






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






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






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






31. Which of the following are functions of management?






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






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






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






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






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






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






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






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






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






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






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






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






44. 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...






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






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






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






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






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






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







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Can you answer 50 questions in 15 minutes?


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