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 difference between current assets and current liabilities is...






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






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






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






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






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






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






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






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






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

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






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






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






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






15. Which of the following is an intangible asset?






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






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






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






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






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






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






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






23. A BFOQ is...






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






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






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






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






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






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






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






31. A source of debt capital would include






32. Factors associated with evaluating a credit risk






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






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






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






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






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






38. 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...






39. A small business is not...






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






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






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






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






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






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






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






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






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






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






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