This quiz works best with JavaScript enabled. Home > Cbse > Class 11 > Commerce > Business Studies > Class 11 Business Studies Chapter 8 Small Business – Quiz 19 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 19 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. All of your website contents are:KLO 2.3 A) A) copyrighted once you publish the website. B) B) can be further copyrighted once registration is completed. C) C) a and b are both correct. D) D) none of the above. Show Answer Correct Answer: B) B) can be further copyrighted once registration is completed. 2. Entrepreneurs must be willing to seek advice from others. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 3. Small Industries are second largest employers of human resource after ..... A) Service sector. B) Defence. C) Real estate. D) Agriculture. Show Answer Correct Answer: D) Agriculture. 4. This is one of the characteristic of small business that supplied by an individual or a small group of individuals? A) A. Sole ownership. B) B. Limited Investment. C) C. Unorganized Labor. D) None of the above. Show Answer Correct Answer: B) B. Limited Investment. 5. What is the role of focus groups in a business? A) To provide a clear managerial structure. B) To solicit individuals to consume a product and provide proactive feedback. C) To describe the purpose of the organization. D) To forecast industry trends. Show Answer Correct Answer: B) To solicit individuals to consume a product and provide proactive feedback. 6. Which of the following equations correctly represents the components of a balance sheet? A) Assets = Current Assets + Fixed Assets. B) Liabilities = Current Liabilities + Long-term Liabilities. C) Assets and liabilities add up to the same number. D) All of the above. Show Answer Correct Answer: A) Assets = Current Assets + Fixed Assets. 7. Advantage of a Franchise A) It's the cheapest way to open a business. B) It's the easiest way to open a business. C) It's the most difficult business to start. D) Customers are already aware of your business. Show Answer Correct Answer: D) Customers are already aware of your business. 8. What are the current in-market activation credits on SBIS primary and secondary lines? A) Primary $ 300 + secondary $ 275. B) Primary $ 350 + secondary $ 325. C) Primary $ 365 + secondary $ 300. D) None Of The Above. Show Answer Correct Answer: C) Primary $ 365 + secondary $ 300. 9. Which of the following is an example of a product business? A) Home inspection service. B) Piano tuning service. C) Selling basketballs. D) Garbage removal. Show Answer Correct Answer: C) Selling basketballs. 10. Which of the following is a significant challenge faced by entrepreneurs in India? A) Easy access to technology. B) Lack of competition. C) Abundant funding options. D) High levels of bureaucracy. Show Answer Correct Answer: D) High levels of bureaucracy. 11. Which stage in the startup process model involves the small business owner removing themselves from the business? A) Growth. B) Maturity. C) Implementation. D) Harvest. Show Answer Correct Answer: D) Harvest. 12. Which of the following is one of the ways that entrepreneurs can acquire a business? A) Entrepreneurs can found their own small business. B) Entrepreneurs can purchase someone else's small business. C) Entrepreneurs can take over (or inherit) an existing family business. D) Entrepreneurs can acquire a business venture in all of these ways. Show Answer Correct Answer: D) Entrepreneurs can acquire a business venture in all of these ways. 13. What is an example given in the text of a small business idea that changed the world? A) Microsoft and Google. B) Amazon and Twitter. C) Microsoft and Amazon. D) Google and Facebook. Show Answer Correct Answer: C) Microsoft and Amazon. 14. Advertising, Merchandising, E-marketing, and Public Relations are all involved in A) Promotion of products. B) Pricing of products. C) All the above. D) None of the above. Show Answer Correct Answer: A) Promotion of products. 15. What is the most common cause of business failure? A) Lack of location. B) Lack of capital. C) Lack of marketing. D) Lack of innovation. Show Answer Correct Answer: B) Lack of capital. 16. Fill in the blank:A ..... is the amount of money a business plans on spending during a given period. A) Asset. B) Invoice. C) Revenue. D) Budget. Show Answer Correct Answer: D) Budget. 17. What is a significant challenge faced by many small businesses A) Unlimited access to resources. B) Difficulty in obtaining financing. C) Formal organizational structure. D) None of the above. Show Answer Correct Answer: B) Difficulty in obtaining financing. 18. Which characteristic is about bringing new and unconventional ideas? A) Personal Agency. B) Problem Solving. C) Ethical Practices. D) Creativity & Innovation. Show Answer Correct Answer: D) Creativity & Innovation. 19. Which is a key trait of an entrepreneur? A) Flexibility. B) Risk Taking. C) Creative Thinking. D) All of the above. Show Answer Correct Answer: D) All of the above. 20. What is the success rate for vending machine businesses? A) 95%. B) 75%. C) 85%. D) 90%. Show Answer Correct Answer: D) 90%. 21. Allows functions to work together; they are not subordinate to each other A) Hierarchical Structure. B) Organizational Structure. C) Learning Based Structure. D) Survey. Show Answer Correct Answer: C) Learning Based Structure. 22. Entrepreneurs should solve: A) Puzzles. B) Problems. C) All the above. D) None of the above. Show Answer Correct Answer: B) Problems. 23. What is the meaning of 'resilience' in the context of entrepreneurship? A) Flexibility. B) Weakness. C) Strength. D) Failure. Show Answer Correct Answer: C) Strength. 24. Fill in the blank:A ..... is a business structure that allows the company to pass its income, losses, deductions, and credits through its shareholders to decrease their taxation. A) C Corporation. B) S Corporation. C) Sole Proprietorship. D) Partnership. Show Answer Correct Answer: B) S Corporation. 25. Bhavika has created a business plan as part of an assignment for her entrepreneurship class. Her plan is for a screen-printing business. In the ..... section of the business plan, Bhavika discusses current competition, pricing, and promotion. A) Company and Industry. B) Introduction. C) Marketing Plan. D) Benefits to the Community. Show Answer Correct Answer: C) Marketing Plan. 26. A symbol or other design adopted by an organization to identify its products, uniform, vehicles, etc. A) Trademark. B) Copyright. C) Logo. D) Slogan. Show Answer Correct Answer: C) Logo. 27. What is the break-even point? A) Costs incurred by a business for property or equipment. B) Items provided to employees in addition to standard compensation. C) The level of familiarity one has with a brand of item, service, or business. D) The point in which a business' revenue matches with expenses over a given time period. Show Answer Correct Answer: D) The point in which a business' revenue matches with expenses over a given time period. 28. Of all the positive characteristics Ray Kroc possessed, which of the following was the most important to him personally? This was emphasized in the movie The Founder. A) Ray was creative. B) Ray had perseverance. C) All the above. D) None of the above. Show Answer Correct Answer: B) Ray had perseverance. 29. An experienced and trusted advisor. A) Mentor. B) Teacher. C) Coach. D) All the above. Show Answer Correct Answer: D) All the above. 30. Which of the following factors commonly leads to small business failure? A) Not enough planning. B) Too much accumulated debt. C) Unanticipated personal sacrifice. D) All of the above. Show Answer Correct Answer: D) All of the above. 31. One of the following factors show how ineffective your website could be:KLO 3.2 A) A) Higher return of investment. B) B) Higher traffic on the website. C) C) Lower number of visits to the website. D) D) All of the above. Show Answer Correct Answer: C) C) Lower number of visits to the website. 32. Fixed Costs is rent, insurance, property, tates, depreritation, remains the same. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 33. What is the main goal of sales promotion? A) To reduce production costs. B) To provide extra value or incentives to customers. C) To increase brand awareness. D) To improve customer service. Show Answer Correct Answer: B) To provide extra value or incentives to customers. 34. What is the main concept of network marketing? A) Paying a fee to use another company's trademark. B) Recruiting other marketers to create a distribution network. C) Selling and leasing products to start a business. D) Preventing unethical behavior from a business or community. Show Answer Correct Answer: B) Recruiting other marketers to create a distribution network. 35. Which of these is the most important external factor governing recruitments? (KLO 2.3) A) A. Sons of soil. B) B. Labour market. C) C. Unemployment rate. D) D. Supply and demand. Show Answer Correct Answer: C) C. Unemployment rate. 36. Which of the following point highlights the role of small scale business in India A) Contributes to industrialisation and Exports. B) Promotes balance regional development. C) Employment generation. D) All of these. Show Answer Correct Answer: D) All of these. 37. A non-profit has a ..... status A) Non-exempt. B) Tax liable. C) Low-taxTagsLEGAL STRUCTURES. D) Tax-exempt. Show Answer Correct Answer: D) Tax-exempt. 38. CEO reports to COO A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 39. It is often very difficult for small businesses to find suitably premises for rent. The rents might be initially very high. A) Advantage. B) Disadvantage. C) All the above. D) None of the above. Show Answer Correct Answer: B) Disadvantage. 40. Why is it important for businesses to consider sources of finance when starting up? A) To fund their activities and cover various costs such as equipment, stock, and bills. B) To avoid paying taxes. C) To increase employee salaries immediately. D) To reduce the need for marketing. Show Answer Correct Answer: A) To fund their activities and cover various costs such as equipment, stock, and bills. 41. A college graduate creates a startup company that connects volunteers with nonprofits. A) Entrepreneur. B) Manager. C) Small Business Owner. D) None of the above. Show Answer Correct Answer: A) Entrepreneur. 42. Key elements of a business plan include all of the following EXCEPT A) Financial Plan. B) Customer Analysis. C) Marketing Plan. D) Vacation Plan. Show Answer Correct Answer: D) Vacation Plan. 43. Sale of specific line of products by these vendors. A) (a) Speciality shops. B) (b) Mail Order Houses. C) (c ) Secondhand goods shops. D) (d) Departmental stores. Show Answer Correct Answer: A) (a) Speciality shops. 44. Which of the following statements accurately describes the distribution of profits in a sole trader business structure? A) All profits go to the sole trader who has to bear all risks and losses. B) Profits are shared equally among all partners. C) Profits are distributed to shareholders as dividends. D) The owner's personal assets are protected from business liabilities. Show Answer Correct Answer: A) All profits go to the sole trader who has to bear all risks and losses. 45. Small business provides A) More employment opportunities. B) Variety of products. C) Balanced regional development. D) All. Show Answer Correct Answer: D) All. 46. What is the full form of DIC? A) District Investment Corporation. B) District Investment Centres. C) District Industries Corporation. D) District Industries Centres. Show Answer Correct Answer: D) District Industries Centres. 47. Opening a branch of a successful business as a Franchise, is a guaranteed way of making money A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 48. Method used when aspiring entrepreneurs quickly and clearly explain their differentiating vision to encourage potential investors to learn more about their business. A) Business plan. B) Business meeting. C) Financial statement. D) Elevator pitch. Show Answer Correct Answer: D) Elevator pitch. 49. How does the culture of Silicon Valley contribute to its success as an innovation hub? A) Focus on traditional industries. B) Supportive ecosystem for startups. C) Limited networking opportunities. D) Strict regulations. Show Answer Correct Answer: B) Supportive ecosystem for startups. 50. Small businesses may lack of sufficient capital, staff and equipment A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. 51. Fill in the blank:The ..... (COO) holds a leadership role within a business. The COO is responsible for overseeing the day-to-day administrative and operational functions of a business. A) Chief Technology Officer. B) Chief Marketing Officer. C) Chief Financial Officer. D) Chief Operating Officer. Show Answer Correct Answer: D) Chief Operating Officer. 52. In this type of partnership some partners may have only partial liability as well as restricted input with management decisions. These restrictions will reflect the percentage of the initial investment made by each partner. A) General Partnership. B) Limited Partnership. C) All the above. D) None of the above. Show Answer Correct Answer: B) Limited Partnership. 53. Sama takes orders going door to door and does tailoring work for women's daily work wear.Sama is a A) Wage Employee. B) Entrepreneur. C) All the above. D) None of the above. Show Answer Correct Answer: B) Entrepreneur. 54. Between 1990 and 2005, roughly what percentage of new jobs were created by businesses with fewer than 500 employees? A) 20 percent. B) 60 percent. C) 80 percent. D) 40 percent. Show Answer Correct Answer: B) 60 percent. 55. True or false:malicious software=tap into A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 56. What is business sustainability? A) Costs incurred by a business for property or equipment. B) Items provided to employees in addition to standard compensation. C) What can be done to increase a business' profitability over the long term and keep the company fresh and competitive. D) The point in which a business' revenue matches with expenses over a given time period. Show Answer Correct Answer: C) What can be done to increase a business' profitability over the long term and keep the company fresh and competitive. 57. How many types of itinerant retailers are there? A) Four. B) Three. C) Two. D) One. Show Answer Correct Answer: A) Four. 58. What is the purpose of the Competitor Analysis section in a business plan? A) To understand who the potential competitors are and reduce the risk of failure. B) To provide a guide for potential investors as to the attractiveness of the business. C) To describe the day-to-day operation of the firm and the facilities required. D) To outline the main elements of the proposed business, including future projections of income and profits. Show Answer Correct Answer: A) To understand who the potential competitors are and reduce the risk of failure. 59. Which of the following is not a way to obtain capital? A) Venture Capitalists. B) Equity Financing. C) Line of credit. D) Selling stock in corporations. Show Answer Correct Answer: B) Equity Financing. 60. A system of computers, peripherals, terminals and databases connected by communication lines are called a A) Bunch of computers. B) Network. C) Cable line. D) Internet. Show Answer Correct Answer: B) Network. ← PreviousNext →Related QuizzesCommerce QuizzesClass 11 QuizzesClass 11 Business Studies Chapter 8 Small Business Quiz 1Class 11 Business Studies Chapter 8 Small Business Quiz 2Class 11 Business Studies Chapter 8 Small Business Quiz 3Class 11 Business Studies Chapter 8 Small Business Quiz 4Class 11 Business Studies Chapter 8 Small Business Quiz 5Class 11 Business Studies Chapter 8 Small Business Quiz 6Class 11 Business Studies Chapter 8 Small Business Quiz 7Class 11 Business Studies Chapter 8 Small Business Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books