This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 105 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 105 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Extractive industries based on natural resources A) Primary Production. B) Secondary Production. C) Tertiary Production. D) Export Production. Show Answer Correct Answer: A) Primary Production. 2. Is it smart to hire a business manager for a small business A) Yes, its worth it to see if you can make a good business. B) No, that's a lot money for something not promised. C) All the above. D) None of the above. Show Answer Correct Answer: A) Yes, its worth it to see if you can make a good business. 3. The last step in a sales process is ..... A) Follow-up. B) Preparation. C) Promotion. D) Budget. Show Answer Correct Answer: A) Follow-up. 4. Edwin received a pay raise and an extra week of vacation for his hard work. This is an example of what type of motivational strategy? A) Empowerment. B) Rewards. C) Redesigning jobs. D) None of the above. Show Answer Correct Answer: B) Rewards. 5. Which of the following methods can be used to fund a Start-up? A) Crowdfunding. B) Angel Investment. C) Bootstrapping. D) All of the above. Show Answer Correct Answer: D) All of the above. 6. 12-Good web design always caters to:KLO 1.1 A) The needs of the user. B) The number of ads. C) The speed of the internet. D) None of the above. Show Answer Correct Answer: A) The needs of the user. 7. Sarah develops a brand-new app that connects dog walkers with pet owners. A) Entrepreneur. B) Manager. C) Small Business Owner. D) None of the above. Show Answer Correct Answer: A) Entrepreneur. 8. Which of the following statements is an ADVANTAGE of the proprietorship form of business ownership? A) The proprietor may not have all the skills needed to run the business. B) Most new businesses require a lot of money to start, this could be more than one owner can provide. C) The risk can be great and must be carried by the proprietor, includes personal liability. D) The proprietor receives all profits from the operation of the business. Show Answer Correct Answer: D) The proprietor receives all profits from the operation of the business. 9. Money needed to pay for the current operating activities of a business A) Start-up financing. B) Venture capital. C) Short-term financing. D) Long-term financing. Show Answer Correct Answer: C) Short-term financing. 10. The possibility that a loss can occur as a result of a business decision or a business activity: A) Risk. B) Pilferage. C) All the above. D) None of the above. Show Answer Correct Answer: A) Risk. 11. Which of the following is not considered a category in the distribution industries? A) Manufacturing. B) Wholesaling. C) Retailing. D) Transportation. E) Communications. Show Answer Correct Answer: A) Manufacturing. 12. A qualitative characteristic that requires all information that could influence decision makers to be included in accounting reports is ..... A) Faithful representation. B) Relevance. C) Comparability. D) Verifiability. Show Answer Correct Answer: B) Relevance. 13. Mark Zuckerberg, Facebook founder, gave how much money to charity in 2017? A) Almost $ 2 billion. B) $ 500, 000. C) $ 0. D) None of the above. Show Answer Correct Answer: A) Almost $ 2 billion. 14. Which option offers a user more control? A) Prebuilt. B) Build your own. C) Outsourced. D) Standardized. Show Answer Correct Answer: B) Build your own. 15. If a person has teamwork skills, communication skills, basic business skills, math skills, problem solving skills, organizing and planning skills, and technology and computer skills they are examples of: A) Reasons entrepreneurships fail. B) Advantages of entrepreneurship. C) Characteristics of an entrepreneur. D) Disadvantages of an entrepreneur. E) Skills of an entrepreneur. Show Answer Correct Answer: E) Skills of an entrepreneur. 16. Ted's new company is experiencing a steady decline in profit. He needs external financing to prevent his company's profits from declining further. Considering the fact that he wants to exercise sole ownership and control over the firm for as long as possible, Ted is likely to find angel investors who are interested in helping him meet his financial needs. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 17. What does a business plan help with when it comes to managing changes and departures from plans? A) Ignoring actual performance. B) Analyzing actual performance against the plan and identifying differences. C) Avoiding any changes to the plan. D) Focusing only on marketing strategies. Show Answer Correct Answer: B) Analyzing actual performance against the plan and identifying differences. 18. Ava loves to make jewelry and would like to open her own business. Is this a business idea or a business opportunity? A) Business opportunity. B) Business idea. C) All the above. D) None of the above. Show Answer Correct Answer: B) Business idea. 19. Entrepreneurs do not listen to the negative people around them. They take the road less traveled. A) Independent-minded. B) Hardworking. C) All the above. D) None of the above. Show Answer Correct Answer: A) Independent-minded. 20. Taking the property of another person by means of force or fear. A) Robbery. B) Burglary. C) All the above. D) None of the above. Show Answer Correct Answer: A) Robbery. 21. A financial document that shows how much a company makes and spends over a given period of time. A) Income statement. B) Balance sheet. C) Cash flow statement. D) None of the above. Show Answer Correct Answer: A) Income statement. 22. Which of the following is NOT an example of small business? A) Handloom weaving. B) Dairy farming. C) Automobile manufacturing. D) Pottery making. Show Answer Correct Answer: C) Automobile manufacturing. 23. Which word is a noun in the following sentence:'The entrepreneur's success was remarkable.' A) Entrepreneur's. B) Success. C) Remarkable. D) Was. Show Answer Correct Answer: B) Success. 24. What is included in the Micro View of the Entrepreneurial Schools-of-Thought Approach? A) Financial/capital school of thought. B) Displacement school of thought. C) Entrepreneurial trait school of thought. D) Environmental school of thought. Show Answer Correct Answer: C) Entrepreneurial trait school of thought. 25. What is the purpose of the Financial Projections section in a business plan? A) To outline the main elements of the proposed business, including future projections of income and profits. B) To describe each member of the management team and their expertise. C) To provide a summary of all the other sections of the business plan. D) To understand who the potential competitors are and reduce the risk of failure. Show Answer Correct Answer: A) To outline the main elements of the proposed business, including future projections of income and profits. ← PreviousNext →Related 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 8Class 11 Business Studies Chapter 8 Small Business Quiz 9Class 11 Business Studies Chapter 8 Small Business Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books