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Class 11 Business Studies Chapter 8 Small Business Quiz 7 (60 MCQs)

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1. Which of the followings comes under the modern small industries.
2. Which of the following is considered a fixed expense for a small business?
3. ESOP involves employees purchasing ownership of a retirement plan from a business owner. What does ESOP stand for?
4. Which of the 4Ps looks at the design of an item?
5. Why is succession planning important when planning for the harvest in a family-owned business?
6. A form of business ownership where 2 or more people share the assets, liabilities and profits.
7. A business that employs 500 or fewer people.
8. A qualitative characteristic of accounting that requires information to be presented clearly and concisely in an understandable fashion is .....
9. SWOT Analysis:Opportunities identified in a SWOT Analysis are not meant to be actionable.
10. What are the government schemes and programs aimed at promoting small businesses in rural India?
11. Which of the following does not describe a typical small business?
12. In marketing, what does the term "target market" refer to?
13. Which of the following is not part of the buyer decision proocess?
14. The physical parts of the computer are called
15. The owner of an organic pet food store would like to analyze the sales data to determine if the business is growing, declining or remaining flat. The owner has the following data:Sales Revenue Last Year = $ 350, 000Sales revenue Current Year = $ 402, 500What is the growth?
16. An investor may take into account a range of factors when deciding whether or not to invest in a company. Factoring in whether the company is acting in the best interests of society and the environment are known as:
17. Why is being an entrepreneur risky?
18. When generating ideas for entrepreneurship, you should consider which of the following:
19. This person is in charge of the overall management of the business.
20. According to Warren Buffett, what is the most important investment you can make?
21. Marieke owns a juice stand. A new amusement park is being built nearby. She wants to increase the capacity of her juice stand. What business opportunity does Marieke foresee?
22. What are costs incurred by a business for property or equipment?
23. Which of the following methods of advertising products is likely to be the most expensive?
24. Adam is considering starting a business where he agrees to buy and sell the products developed by the seller or owner of the business model. What type of business opportunity is Adam considering?
25. Which of the following payment methods is not a recent example of technology changing the way we pay?
26. Label the items as either a product or a service:"Beauty Salon or Barber Shop"
27. What is the significance of the Market Analysis section in a business plan?
28. What is a common strategy for small businesses to increase their market presence?
29. The owner may decide to sell their ownership in the company during the ..... stage.
30. Encourage local employees to walk or bike to work.
31. Where theinvestment in plant and machinery doesnot exceed twenty-five lakh rupees in manufacturing sector is categorised as .....
32. What role does customer feedback play in a small business?
33. Which of the following is a trait of successful entrepreneurs?
34. Label the items as either a product or a service. Toilet Paper
35. 10-What is the point of hiring external advisors:(KLO 1.5)
36. Small businesses provide employment to people who want to work near their homes and to spend time with their families.
37. What should be considered when selecting a business budget template?
38. What is a major influence when launching a business
39. Which of the following is not one of the reasons small businesses fail?
40. Which of the following is a characteristic of an entrepreneurial mindset?
41. Research to learn about the business's customers is included in which part of the business plan?
42. What is a hierarchical structure?
43. A small business should consider the local competition when deciding on a location to ensure they are not oversaturated in the area.
44. A second line on BYOD CANADA-WIDE can be priced as low as:
45. How can small businesses provide personalized attention and exceptional customer service?
46. Decision-making:is less formal and more personalized
47. When presenting a business plan, what is an effective way to handle difficult questions from investors?
48. What is the success rate for small businesses surviving five years or more?
49. Unemployment Insurance-maintain the program that provides temporary financial assistance toworkers who are unemployed through no fault of their own.
50. What does the term 'Operational Cost' include?
51. A focus group was formed to provide opinions for a target market. What type of research is this?
52. What should you calculate to request funding and attract investors?
53. You need to create a legal structure for your small business. You want it to grow in the future. Your startup partners are citizens of Mexico and Japan. You do not want to be personally liable.
54. A small business owner is analyzing whether to expand to a second location. Which of these factors would be most crucial to evaluate before making the decision?
55. What are the benefits of the liberalised credit policy for small businesses?
56. A privately, independently owned, managed, and operated for profit
57. The MSMED Act, 2006 includes which sector besides small scale enterprises?
58. Which of the following is NOT a step to becoming a consultant?
59. A business undertaking involving risk.
60. Which of the below is not the advantage of large business structure?
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