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






2. Which of the following are functions of management?






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






4. 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...






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






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






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






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






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






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






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






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






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






14. A source of debt capital would include






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






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






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






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






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






20. 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...






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






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






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






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






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






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






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






28. 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...






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






30. An individual that assumes the risks associated with a new venture start-up can be referred to as a...






31. A small business is not...






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






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






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

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






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






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






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






39. Factors associated with evaluating a credit risk






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






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






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






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






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






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






46. Which of the following is an intangible asset?






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






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






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






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