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






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






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






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






5. Rent is an example of a...






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






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






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






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






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






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

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12. Which of the following are disadvantages of a partnership?






13. 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...






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






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






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






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






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






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






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






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






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






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






24. 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...






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






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






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






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

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






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






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






32. 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...






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






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






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






36. Business interruption insurance covers






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






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






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






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






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






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






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






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






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






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






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






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






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







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