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Class 11 Business Studies Chapter 8 Small Business Quiz 14 (60 MCQs)

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1. The activity of presenting products or services to customers
2. Creates budgets, analyzes financial data, and forecasts company profits.
3. For a limited time only, small business customers completing a new activation or add an additional line can now get an additional $ ..... credit per line.
4. What is a franchise?
5. What is the first and primary question you should ask yourself before starting a small business?
6. Small businesses tend to have a low number of employees compared to larger enterprises
7. A qualitative characteristic of accounting that enables accounting information to be checked against business documents is .....
8. What is a common reason for small business failure?
9. This is the legal right granted to an individual (or group) to operate a business as if it were part of a larger chain of stores.
10. Small businesses tend to be innovators of products and of production processes.
11. What type of tax is Value Added Tax (VAT)?
12. Small business firms are unable to attract skilled workers because .....
13. Once a business plan is written, it should never be revised and should never be updated.
14. Votes on the management of the company and whether to remove the CEO should the occasion arise
15. To maintain strong customer relationships, a business decides to implement a rewards program. Which feature would make this program successful?
16. What is the ROI Return on Investment formula?
17. Select the following incorrect statement concerning preparing your own personal budget for the next 12 months:
18. Business advisers point to the importance of finding a niche.What does "niche" ?
19. ..... was set up by world association for small and medium enterprises and sponsored by NABARD
20. Whats the point of registering your business?
21. Approximately half of all small businesses are home-based businesses.
22. Describe Venture Capital
23. How does government assistance support small businesses in India?
24. Financial events are recorded and reported for a specific period of time, allowing valid comparisons of performance to be made
25. Which of the following is NOT a benefit of planning for the harvest in a small business?
26. You should always wear your name tag when working.
27. What is one of the primary roles of MSMEs in the context of employment?
28. According to the Design Thinking Process:State Your User's Needs and Problems
29. A qualitative characteristic of accounting that requires financial reports to be prepared so that performance can be compared is .....
30. Small businesses .....
31. When consumers shop at local small businesses, they are essentially giving money back to their .....
32. True or false:to prepare/get ready for (s.t. difficult/unpleasant)=brace for
33. Which of the following is a common source of funding for small businesses?
34. Secure a start-up's business name
35. Small businesses often have limited access to external sources of funding
36. Entrepreneurs is individuals who introduce new products, processes, or ways of organizing production, thereby disrupting existing markets and creating economic value.
37. This is a planned set of questions to which individuals or groups of people respond.
38. Which of the following is an example of a promotional activity?
39. List the correct order of the business life cycle stages.
40. In what year was the Small Industries Development Bank of India established?
41. Below is the Entrepreneurial process?(A) Start the venture(B) Explore the entrepreneurial context(C) Manage the venture(D) Identify opportunities and possible competitive advantagesWhich one is the correct order?
42. Another term or meaning of an invoice is:
43. It refers to the place where the customers can obtain and buy the product. Also place include the distribution channel (the product get reach the hand of customer through it).
44. Enterprise can mean which of the following
45. The following is concerned with developing a pool of candidates in line with the human resources plan.
46. This is a clear statement that describes the benefit of the new business, how it solves customer's needs and what distinguishes it from the competition.
47. Explain the concept of small business in the context of India.
48. Which theory states that providing attention and making people feel valued are the most important factors in improving worker satisfaction?
49. How might a business assess its financial viability using customer demand?
50. What do innovation, invention, and improvement have to do with entrepreneurship opportunities?
51. When 2 or more people own a business, it is considered a
52. What is the main focus of the Dynamic States Approach in entrepreneurship?
53. Cassia remained positive about selling more cars even when she had a disappointing month of sales. Which characteristic of a successful entrepreneur does this represent?
54. List three characteristics of small businesses.
55. Small business support networks are general features of small businesses
56. Sam works at a local bookstore. He gets paid a set rate for the hours he works. What type of compensation is Sam receiving?
57. Why might a small manufacturing business have an advantage in innovation?
58. Which of the following is NOT typically included in a Business Plan?
59. Entrepreneurs must be willing to risk the chance of failure in order to be successful. What important characteristic of entrepreneurs is this?
60. What is a key consideration for a small business when choosing between different promotional channels for global marketing?
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