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






2. 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...






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






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






5. 2/10 - N/30 means...






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






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






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






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






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






11. 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...






12. Which of the following are functions of management?






13. 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...






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






37. Rent is an example of a...






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






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






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






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






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






43. Factors associated with evaluating a credit risk






44. Which of the following is an intangible asset?






45. 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...






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






47. 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...






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






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






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






Can you answer 50 questions in 15 minutes?



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