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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 normally NOT a source of published market data?






2. A small business is not...






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






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






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






6. Business interruption insurance covers






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






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






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






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






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






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






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






14. A BFOQ is...






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






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






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 disadvantages of a partnership?






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






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






21. 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...






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






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






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






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






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






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

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






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






30. Factors associated with evaluating a credit risk






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






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






33. A source of debt capital would include






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






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






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






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






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






39. 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...






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






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






42. A business that purchases finished goods for resale is referred to as a...






43. Which of the following are functions of management?






44. Which of the following is an intangible asset?






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






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






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






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






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






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







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