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






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






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






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






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






6. 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...






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






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






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






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


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






12. The current asset items consisting of cash - inventories - and accounts receivables is known as...






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






32. All of the following are factors which can affect the recruitment and selection of employees except






33. A small business is not...






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






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






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


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






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






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






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






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






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






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






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






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






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






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






48. Factors associated with evaluating a credit risk






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






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