This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 12 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 12 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is a feature of a Non-Profit Corporation? A) Profits are distributed to shareholders. B) Profits are not distributed to shareholders. C) Profits are taxed at a higher rate. D) Profits are only used for personal gain. Show Answer Correct Answer: B) Profits are not distributed to shareholders. 2. Which of the following is a key characteristic of a successful entrepreneur? A) Laziness. B) Lack of Focus. C) Perseverance. D) Dependency on others. Show Answer Correct Answer: C) Perseverance. 3. What is one of the benefits of starting a franchise? A) No need for ongoing support and training. B) Lower risk to start. C) No start-up costs. D) Complete freedom in location choice. Show Answer Correct Answer: B) Lower risk to start. 4. Sole Proprietorship is a one owner business, that is difficult to set up and has limited liability. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 5. The process of starting, organizing, managing, and assuming the responsibility for a business is called capitalism. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 6. What is the main advantage of using quantitative data in market research? A) It is always collected through interviews. B) It provides measurable and comparable results. C) It ignores numerical information. D) It only focuses on opinions. Show Answer Correct Answer: B) It provides measurable and comparable results. 7. In a Franchise arrangement, who owns the business idea and decides how the business will be operated and run? A) Franchisor. B) Franchisee. C) Partner. D) Franchise. Show Answer Correct Answer: A) Franchisor. 8. What is a budget? A) Costs incurred by a business for property or equipment. B) Items provided to employees in addition to standard compensation. C) The amount of money a business plans on spending during a given time period. D) The point in which a business' revenue matches with expenses over a given time period. Show Answer Correct Answer: C) The amount of money a business plans on spending during a given time period. 9. Which of the following is a disadvantage of being a private limited company? A) It has a separate legal identity and therefore has continuity. B) Control is kept over who buys shares in the company. C) Shareholders' personal possessions cannot be taken to pay any debts. D) A summary of the business's accounts can be viewed by the public. Show Answer Correct Answer: D) A summary of the business's accounts can be viewed by the public. 10. What is a recommended practice for data on old devices? A) Just delete the files. B) Use software to erase data. C) Store them in a drawer. D) Share them with others. Show Answer Correct Answer: B) Use software to erase data. 11. Which of the following is probably the least important factor in becoming an entrepreneur? A) Having a desire to be your own boss. B) Living in a major city. C) Having special skills and abilities. D) Developing a good business plan. Show Answer Correct Answer: B) Living in a major city. 12. What is the purpose of using a VPN when connecting to public Wi-Fi? A) To increase internet speed. B) To encrypt traffic between computers and the internet. C) To reduce data usage. D) To bypass network restrictions. Show Answer Correct Answer: B) To encrypt traffic between computers and the internet. 13. As an entrepreneur that is starting a business, it is necessary to have all permits and licenses before registering on Geaux Biz. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 14. Village and small industries are significant as producers of consumer goods and absorbers of surplus ..... , thereby addressing the problems of poverty and unemployment. A) Labour. B) Money. C) Machines. D) Water. Show Answer Correct Answer: A) Labour. 15. Which mindset is essential for an entrepreneur? A) Risk aversion. B) Fixed mindset. C) Growth mindset. D) Pessimistic outlook. Show Answer Correct Answer: C) Growth mindset. 16. Choose a way for business to pay its bills while earning rewards or cash back A) Cash. B) Bill pay. C) Direct pay. D) Business credit card. Show Answer Correct Answer: D) Business credit card. 17. The span of control can be defined as A) The number of subordinates directly controled by one manager. B) The number of departments in a business. C) The number of managers who report directly to each worker. D) The number of levels in a firm's hierarchy. Show Answer Correct Answer: A) The number of subordinates directly controled by one manager. 18. Growing a Small Business to a Corporation:Small businesses that grow into large businesses often remain in the community in which the business was first established. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 19. What percentage of UK employment is through small and medium sized businesses? A) 75%. B) 60%. C) 48%. D) None of the above. Show Answer Correct Answer: B) 60%. 20. IS THE WORK OF MANAGING AN ORGANIZATION'S RESOURCES, TIME, AND PEOPLE.BUSINESS ADMINISTRATION PROFESSIONALS WORK TO ENSURE THAT BUSINESSES AND ORGANIZATIONS ARE RUN EFFECTIVELY, EFFICIENTLY, AND PROFITABLY? A) SMALL BUSINESS. B) MANAGEMENT. C) VALUE OF SMALL BUSINESS. D) BUSINESS ADMINISTRATION. Show Answer Correct Answer: D) BUSINESS ADMINISTRATION. 21. Entrepreneurs have the ability to generate new and unique ideas. This is known as: A) Creativity. B) Courage. C) All the above. D) None of the above. Show Answer Correct Answer: A) Creativity. 22. When entrepreneurs develop new products that we didn't even know we needed until we had them, they are showing the entrepreneurial characteristic of vision. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 23. Corporate entrepreneurship involves: A) Developing large scale innovations. B) Small business activity. C) Adding new businesses to the company. D) All of the above. Show Answer Correct Answer: C) Adding new businesses to the company. 24. Assertion:small business is defined on the basis of investment in plant and machinery or equipment in IndiaReason:in India, there is a scarcity of capital and abundance of labour A) Both assertion and reason are true and reason is the correct explanation of assertion. B) Both assertion and reason are true and reason is not the correct explanation of assertion. C) Assertion is true but reason is false. D) Assertion is false but reason is true. Show Answer Correct Answer: A) Both assertion and reason are true and reason is the correct explanation of assertion. 25. Which of the following is a reason why small businesses fail? A) Lack of research, preparation, and planning. B) Poor management and leadership skills. C) Lack of financial capital. D) All are reasons why businesses fail. Show Answer Correct Answer: D) All are reasons why businesses fail. ← 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