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Class 11 Business Studies Chapter 8 Small Business Quiz 25 (60 MCQs)

Quiz Instructions

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1. Working Capital is defined as
2. According to the SBA, a small business is an independent business with fewer than ..... employees.
3. ..... capital is money provided by large investors to finance new products and new business that have a good chance to succeed.
4. Which of the following is NOT true about small-business owners?
5. Indicate whether the statement is true or false. In a franchise, the franchisee gets the opportunity to start a business with limited capital and to make use of the business experience of others.
6. What is an example of a small business making necessary changes to their business model?
7. Has no ownership and pays no US federal taxes
8. Customer should have an HST number to activate a SMB account on Rogers
9. Applying principles of right and wrong to situations in the workplace
10. ..... is a new business that is started from scratch.
11. Which type of sales event is specifically designed to strengthen relationships with existing customers and build a sense of community among them?
12. The annual cost for insurance is called
13. Familiarity ..... customers is one of the common traits all the entrepreneurs should share.
14. What is a disadvantage of buying office space?
15. Which Act was passed to address the issues of small enterprises?
16. Who opened the first McDonald's restaurant?
17. What is the primary reason that businesses started by entrepreneurs close?
18. What is an advantage of buying a franchise?
19. A business wants to reach a wide audience using TV, radio, and the internet. Which promotional method are they using?
20. Define the term 'Introduction to Entrepreneurship'.
21. What are the different types of government assistance available for small businesses?
22. A small business in the U.S. wants to enter the European market. How should they tailor their promotional efforts for the European audience?
23. Work that is done for others is what type of business organization?
24. The period of time over which revenues are compared with expenses in order to determine profit is called .....
25. All are reasons why firms remain small EXCEPT .....
26. Below are the examples of startup in the sharing-economy, EXCEPT:
27. NABARD set up in
28. As of 2018, how many small businesses were there in the U.S.?
29. List three characteristics of successful entrepreneurs.
30. What is the main function of trade unions?
31. What is the significance of financial projections in a business plan?
32. This a process that requires hard work, perseverance, and the willingness to assume some degree of risk.
33. A sophisticated cash register connected to a computer.
34. Performance and credit rating is implemented by
35. Bank norm for Current Ratio is:
36. Which of the following comes under the Modern Small Industries
37. In the VPC, this section is where you put the list of what your startup offers in terms of products or services or on what you can offer to complete client jobs.
38. Two or more businesses pooling their resources to achieve a goal:
39. In a limited liability partnership, each partners of the business is not personally liable for the business debts if they cannot be paid.
40. What is an example of a threat in a SWOT Analysis?
41. General statements of what needs to be achieved and accomplished to achieve the mission
42. Which of the following is a government initiative to support startups?
43. Which element outlines marketing costs?
44. A venture business has no employees other than the owner.
45. Which program is dedicated to helping veterans start their own businesses?
46. Debt that includes a legal obligation by the borrower to repay the debt personally if the business is unable to make its scheduled debt payment.
47. Looking at new ways of doing things, and using the mind to conceptualize unique ideas is what characteristic of an entrepreneur?
48. What are the different types of business ownership?
49. A small business is planning to expand. What should the owner do to estimate future expenses accurately?
50. When starting a business, why is it important to identify your own skills gap?
51. A business wants to target a product at younger women with a high budget. Which market segmentation variables are they using?
52. Which act is applied on Small Scale Industries?
53. This is the ability to complete what you start in spite of difficulties and obstacles.
54. Sally stated her business five years ago. The business brings organic produce to food banks and has grown 15% each year. What type of entrepreneur best describes Sally?
55. In the modern customer-oriented company, which managers must be personally engaged in knowing, meeting and serving customers.
56. For every $ 1 of public spending at an incubator, how much is generated in local tax revenue?
57. How many small businesses are there in the US?
58. In which industries are intrapreneurs commonly found?
59. Which section of the business plan identifies a target market?
60. Which theory states that all humans have five basic types of needs:physiological, safety, love/belonging, esteem, and self-actualization?
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