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Class 11 Business Studies Chapter 8 Small Business Quiz 20 (60 MCQs)

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1. The purpose of a business plan includes which of the following?
2. They provide goods and services that are not provided by larger firms.
3. Belief in oneself and one's own abilities with an expectation to be successful.
4. If an ancillary unit is owned by another business unit, what happens to its status?
5. In a sole proprietorship, who gets to keep the profits from the business?
6. What is the first step in ensuring cybersecurity for small businesses?
7. There are 30.2 million small businesses in the U.S.
8. They act as competitors to larger firms which will help improve their efficiency and lower the prices offered to the consumers.
9. How do small businesses contribute to innovation?
10. What role do ancillary industrial undertakings play in the industrial ecosystem?
11. Which of the following is NOT a recommended strategy to manage your personal finances effectively?
12. What is the last stage in the business life cycle?
13. This is a small number of people who are brought together to discuss elements of a specific issue or problem.
14. A for-profit corporation with a lower tax rate that prevents the company from being double taxed
15. Ram is running a power loom unit, he wants to export his product to UAE. But due to failure in ISO9000 Certification he couldn't export, can you identify which type of problem Ram faced here
16. Scenario:An entrepreneur reaches the turnover threshold of ₹ 60 crore with investment of ₹ 20 crore. Under the 2025 MSME standards, this enterprise most likely falls into which category based on the given turnovers?
17. Fixed costs plus variable costs.
18. What is the financial consideration during the start-up or acquisition stage of a venture?
19. Social media marketing for small business is high risk/high reward:
20. The Startup India campaign was announced on
21. Which of the following statements is an ADVANTAGE of the partnership form of ownership?
22. Is choosing a business name important?
23. What is the focus of Design Thinking?
24. Sarah is driving on the highway and a large cow runs out in front of the car, and Sarah hits it. The cow seems unhurt and runs away. Sarah is left with a big, ugly dent in her car. What type of auto insurance coverage will Sarah be glad he bought? ( Unit 33-KLO 1-1)
25. How many different groups should students pair up in to complete a PowerPoint on articles of business impacted by Risk Management Policies?
26. A main line on Canada/US/MEX Ultimate 200 can be priced as low as:
27. ....is the final step in organizational design (KLO 2.4)
28. Which of the following would be an example of an expense for a business?
29. An obligation you have to pay someone else money. Also called a debt or a loan.
30. What is the average monthly revenue for this business (for the 4 months that the business is open)?
31. Small Scale Industry in service sector with the capital investment in the equipment of Rs 1 crore is:enterprise Enterprise
32. Small-scale businesses employ smaller teams of employees than companies that operate on larger scales. What characteristic is this?
33. What are the three ways to start your own business?
34. What does it take to start a small business
35. Why is understanding global opportunities important for small businesses?
36. Which is not a non-fund based facility?
37. A useful payment method is direct debit. Under this arrangement:
38. What is the significance of the Partnership Agreement?
39. The amount of revenue for given period of time, which consists of gross sales minus sales return. (Revenue= Gross Sales-Sales Return)Which term describes this statement/equation?
40. Site locators ..... the ability to promote the business and be successful.
41. File Wages and Pay Taxes-help employers and representatives submit tax reports and pay theirtaxes.
42. Which of the following refers to the negotiation where the solution exists so that both parties are trying to mutually find an acceptable solution to complex situation:(KLO 2.2)
43. ..... % of total exports are contributed by small industries in India.
44. What is a key factor in determining a business's market strategy?
45. Negotiation implies that both parties accept that the agreement between them is:(SS 1.B)
46. Construction Contractor, Management Analyst, Animal Care Workers, Education Consultants and Personal Home Care Aides are all
47. What is the purpose of the National Bank for Agriculture and Rural Development (NABARD) in relation to small businesses?
48. Who should have access to records or devices with sensitive data?
49. About ..... % of U.S. employees work in small businesses.
50. What is the primary reason for conducting market research?
51. A solution in which no party can be made better off without making another party worse off by same amount or more, is known as (SS 3)
52. What is the Integrative Approach in entrepreneurship built around?
53. Which of the following is an external factor that can lead to business failure?
54. When did the Exxon Valdez Oil Spill occur?
55. A small business employs 100 or fewer people.
56. Why is establishing strong customer relationships important for small businesses?
57. According to Schumpeter's Innovation Theory, what drives entrepreneurship?
58. What type of compensation is described as non-cash?
59. TV advertising is a good idea if your product sells in a .....
60. In which step of the Design Thinking Process do you create a simple version of your solution?
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