This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 106 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 106 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. If a business plan is to be emailed, what is an important consideration? A) It should be handwritten. B) It should be in the correct format and easy enough to download. C) It should be printed only. D) It should not include any appendices. Show Answer Correct Answer: B) It should be in the correct format and easy enough to download. 2. Evangeline is just beginning to explore the idea of starting a business. What resources might be the best place to start? A) Small Business Administration. B) Books and the Web. C) Business Partners. D) None of the above. Show Answer Correct Answer: B) Books and the Web. 3. What are some of the challenges faced by small businesses in India? A) Some challenges faced by small businesses in India include access to finance, bureaucratic red tape, and competition from larger businesses. B) High taxes. C) Lack of internet access. D) Language barriers. Show Answer Correct Answer: A) Some challenges faced by small businesses in India include access to finance, bureaucratic red tape, and competition from larger businesses. 4. It refers to the customers, employees, management and everybody else involved in it A) Progress. B) People. C) Price. D) Pruduct. Show Answer Correct Answer: A) Progress. 5. This is a temporary partnership created for a single project or purpose. A) Joint Venture. B) Limited Partnership. C) General Partnership. D) Industrial Partnership. Show Answer Correct Answer: A) Joint Venture. 6. The person who has sole ownership of a business. A) Proprietor. B) Chief Executive Officer. C) Stock Holder. D) Senior Partner. Show Answer Correct Answer: A) Proprietor. 7. Dissatisfied customers will share their dissatisfaction with others more than satisfied customers will share their satisfaction with others when it comes to resolving customer complaints. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 8. Let's say you bought into a McDonalds franchise, could you go and buy paper cups from Walmart without the main franchise office of McDonalds knowing or saying its okay? A) Yes, you can do whatever you want!. B) No way, the franchise owner has to approve any changes I want to make. C) All the above. D) None of the above. Show Answer Correct Answer: B) No way, the franchise owner has to approve any changes I want to make. 9. If a person is persistent, responsible, risk taking, enthusiastic, creative, inquisitive, independent and goal-oriented 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: C) Characteristics of an entrepreneur. 10. In this business structure, Only one individual can be the owner and is personally responsible for the business and all its liabilities. A) Corporation. B) Sole Proprietorship. C) Partnership. D) None of the above. Show Answer Correct Answer: B) Sole Proprietorship. 11. This is (aka) also known as "e-tailing" A) E-marketing. B) Public relations. C) Promoting. D) None of the above. Show Answer Correct Answer: A) E-marketing. 12. A lean canvas should only be ..... long. A) One page. B) Two pages. C) Five pages. D) Ten pages. Show Answer Correct Answer: A) One page. 13. What is the backbone of a good personal brand? A) Personal Website. B) Business Cards. C) Social Media Presence. D) Networking Events. Show Answer Correct Answer: A) Personal Website. 14. Which promotional tool is often used by small businesses to build long-term relationships with customers? A) Sales promotion. B) Public relations. C) Advertising. D) Personal selling. Show Answer Correct Answer: B) Public relations. 15. Managing payroll involves: A) Monitoring credit. B) Ensuring bills are paid. C) Paying employees for their time worked. D) All of the above. Show Answer Correct Answer: C) Paying employees for their time worked. 16. Which corporation is very strict to qualify for, can only have 100 shareholders, 1 class of stock, and strict with who can be a shareholder? A) Sole Proprietor. B) S-Corporation. C) C-Corporation. D) Non-Profit. Show Answer Correct Answer: B) S-Corporation. 17. What type of credit policy does the government provide for small scale industries? A) Tax exemptions only for large corporations. B) High-interest loans without guarantees for small scale industries. C) Subsidized loans and credit guarantees for small scale industries. D) No financial support for any industries. Show Answer Correct Answer: C) Subsidized loans and credit guarantees for small scale industries. 18. Which of the following describes a business model that allows customers to pay for actual usage? A) Freemium. B) Leasing. C) Pay-as-you-go. D) Subscription. Show Answer Correct Answer: C) Pay-as-you-go. 19. Why should you limit login attempts? A) To make it easier for intruders. B) To protect against intruders. C) To allow unlimited access. D) To avoid using passwords. Show Answer Correct Answer: B) To protect against intruders. 20. A business structure whereby the owners are not personally liable for the company's debts or liabilities. It combines characteristics of a corporation with those of a sole proprietorship/partnership. A) Limited Liability Company (LLC). B) Partnership. C) All the above. D) None of the above. Show Answer Correct Answer: A) Limited Liability Company (LLC). 21. Small business constitute a-percent of total industry A) 90. B) 85. C) 95. D) None of the above. Show Answer Correct Answer: C) 95. 22. Adapting to Changing Climates:Small businesses are often very ..... and understand the needs of the community. A) Low maintenence. B) Low cost. C) Technology friendly. D) Customer-oriented. Show Answer Correct Answer: D) Customer-oriented. 23. This entrepreneur was exactly 40 when she opened her flagship bridal store in New York City. She is: A) Donatella Versace. B) Peggy Olson. C) Vera Wang. D) None of the above. Show Answer Correct Answer: C) Vera Wang. 24. Which industry is considered attractive to small businesses due to technological advancements? A) Retailing and wholesaling. B) Services. C) Manufacturing. D) High Technology. Show Answer Correct Answer: D) High Technology. 25. What is an essential skill for successful entrepreneurs? A) Disinterest in learning. B) Inflexibility. C) Effective communication. D) Procrastination. Show Answer Correct Answer: C) Effective communication. ← 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