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






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






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






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






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






6. 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...






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






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






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






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






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






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






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






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






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






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






17. A BFOQ is...






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






19. 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...






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






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






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






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






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






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






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






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






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






29. Rent is an example of a...






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






31. A small business is not...






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






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






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






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






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






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






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






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






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






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






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






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






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

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






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






47. Which of the following is an external problem and risk of business ownership?






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






49. Factors associated with evaluating a credit risk






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