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






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






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






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






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






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






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






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






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






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






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






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






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






14. A strategy available to absorb risks would be...






15. 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...






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






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






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






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






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






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






22. A BFOQ is...






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






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






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






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






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






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






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






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






31. 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...






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






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






34. Factors associated with evaluating a credit risk






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






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






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






38. A small business is not...






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






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






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






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






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






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






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






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






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






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






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






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