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Class 11 Business Studies Chapter 8 Small Business Quiz 42 (60 MCQs)

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1. Which of the following is NOT one of the decisions to make when starting a small business?
2. When promoting a small business, relying only on traditional advertising methods (TV, radio, etc.) is enough to effectively reach younger demographics.
3. Due to ..... these enterprises have to adjust and compromise either in terms of poor quality or high price .....
4. Which of the following the owners pay taxes on their business profits / losses through their own personal taxes at the personal tax rate?
5. Which of the following is a benefit of entrepreneurship?
6. Non-fund based limits involve:
7. Funding a business online through the collective involvement of others who provide donations, loans, or investments. This is:
8. Having no sales plan are common mistakes to many owners
9. An individual that owns a company. The owner is personally liable for all debts.
10. What is a characteristic of the Factor-Driven Phase in economic development?
11. Which one of these is not a key challenge for small businesses?
12. Caleb and Bennett have decided to start a pizza delivery business. What is the first stage in their business life cycle?
13. Many small business fail because they
14. Which of the following is a merit of small business?
15. Why is a business plan important for a small business?
16. Costs that do not vary based on the units sold by an enterprise.
17. Would the following business be classified as B2B or B2C? Motorcycle repair shop
18. One of the following ways used to value employees:(SS 2.c)
19. An entrepreneur is .....
20. The type of insurance that provides protection against financial loss from medical bills is called
21. It costs $ 7, 250 per year for your company's insurance policy. This amount reflects the insurance policy's .....
22. Programs on the computer with written commands that tell a computer what tasks to perform are called
23. Statement 1:Micro Enterprise is an enterprise in which investment in plant and machinery or equipment does not exceed 5 crore and annual turnover does not exceed 10 crores.Statement 2:In India, MSMED Act, 2006 was established for developing and enhancing the competitiveness of large industries.
24. National small industries corporation was set up in the year
25. An individual wants a quick, easy and inexpensive way to start-up a small business. In this situation, which of the following types of organisation should the individual select for his start-up?
26. What are some of the challenges small businesses face (barriers to entry) in starting?
27. Associated with political and economic trends. Examples:unemployment, inflation, competition, new government regulations.
28. 6-Which of these is the purpose of recruitment? (KLO SS 3)
29. Secretary of State
30. According to the Design Thinking Process:Try your solutions
31. A small business has fewer than 250 employees
32. Which of the following documents is issued by a registered dealer to the purchaser, showing the amount of tax payable.
33. What are the sources of financing that entrepreneurs use for their new businesses?
34. What is the success rate of firms that graduate from business incubators after five years?
35. Disadvantages of growth to the firms that originate from the organisation itself usually carry up the cost of production
36. Medium scaleenterprises and service relatedenterprises also come under thepurview of which Act?
37. What assumption does this statement say "Break even is 54 units" ?
38. Communication between managers, employees and work groups is known as
39. Which of the following best describes the ownership structure of most small businesses?
40. This is the second stage of the business life cycle; the business is growing and has a following, but is not yet profitable.
41. In the Typology of Entrepreneurs Framework, which category includes Cognitions, Meta Cognition, and Cognitive Adaptability?
42. What does a mission statement describe?
43. Which of the following is a characteristic of a sole proprietorship?
44. What is one of the key roles of the Small Industries Development Bank of India (SIDBI)?
45. The source of owner-supplied money depends on the business's ownership structure. In a(n) ..... , one person will supply the money.
46. Small businesses are responsible for creating what percent of all new jobs?
47. Everyone who owns a business is an entrepreneur.
48. A financial statement that reports assets, liabilities, and owner's equity on a specific date.
49. Who provides financing for start-up businesses often?
50. Which is the primary characteristic of all physical and digital sales channels?
51. What does Expense refer to in the context of business?
52. Small businesses do not have economies of scale, the ability to cut costs by increasing production.
53. How much small industries in India contribute towards gross industrial value added and total exports?
54. Kazuto is interested in starting a business. Which is a reason he should consider buying an existing business versus starting one from scratch?
55. Mr. Hill runs a family-owned car repair shop with three employees.
56. What percentage of businesses fail in the first 5 years?
57. If you assume the risk of starting a business to earn a profit, you can be classified as a(n) .....
58. A business that has been in operation for less than three years, and has the owner as the manager, is called a
59. Which type of financing is needed to pay for the current operating activities of a business (1-2 months-a year)?
60. A small scale serivce and business enterprise is one whose investment in fixed assets of plant and machinery excluding land and building does not exceed .....
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