This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 15 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 15 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. To evaluate the skills of employees, corporation can (Unit 33KLO 2-1) A) A. Give employees a test. B) B. Ask to prepare self-assessment. C) C. Put Them in Real Situations. D) D. All of above. Show Answer Correct Answer: D) D. All of above. 2. Which role reports to the board of directors? A) CEO. B) CFO. C) Stakeholder. D) Founder. Show Answer Correct Answer: A) CEO. 3. What is the purpose of competitive analysis? A) To apply for licenses. B) To make your business unique. C) To find a business location. D) To register your business. Show Answer Correct Answer: B) To make your business unique. 4. Which of the following industries is NOT listed as one that attracts small business? A) Retailing and wholesaling. B) Services. C) Manufacturing. D) Agriculture. Show Answer Correct Answer: D) Agriculture. 5. Peningkatan kualitas produk dapat menciptakan daya saing keuntungan bagi suatu perusahaan A) Benar. B) Salah. C) All the above. D) None of the above. Show Answer Correct Answer: A) Benar. 6. What percentage of all jobs have small businesses provided since the 1970s? A) 45%. B) 55%. C) 75%. D) 65%. Show Answer Correct Answer: B) 55%. 7. Which of the following is a primary reason for conducting market segmentation? A) To identify specific groups of customers with similar needs. B) To increase the number of products offered. C) To reduce the quality of products. D) To avoid analyzing competitors. Show Answer Correct Answer: A) To identify specific groups of customers with similar needs. 8. Supply imported & indigenous machines & raw material is provided by? A) DIC. B) NSIC. C) MSME Act. D) None of these. Show Answer Correct Answer: B) NSIC. 9. Which of the following is a type of business one can start? A) Buy a franchise. B) Sell a franchise. C) Merge with another business. D) Liquidate the business. Show Answer Correct Answer: A) Buy a franchise. 10. What should you check in your operating system for better security? A) Screen brightness settings. B) Full-disk encryption option. C) Wallpaper settings. D) Volume control. Show Answer Correct Answer: B) Full-disk encryption option. 11. A competitive advantage that small businesses have over larger businesses is A) Lower costs. B) More consumer research. C) Lower prices. D) Attention to unique customer needs. Show Answer Correct Answer: D) Attention to unique customer needs. 12. Product/Market Fit:Before hypothesizing a solution, first determine if there is a problem worth solving. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 13. Selection process is (KLO 3.10) A) A. A detailed analogy of the steps required to complete a given. B) B. shortlisting of the right candidates with the necessary qualifications and skill. C) C. an opportunity for management to improve and upgrade. D) D. All of the above. Show Answer Correct Answer: B) B. shortlisting of the right candidates with the necessary qualifications and skill. 14. Select the correct verb tense:'The entrepreneur ..... a new business last year.' A) Started. B) Starts. C) Start. D) Starting. Show Answer Correct Answer: A) Started. 15. Which of the followings comes under the modern small industries. A) (a) coir. B) (b) power looms. C) (c ) handicrafts. D) (d) khadi. Show Answer Correct Answer: B) (b) power looms. 16. NABARD PROVIDES A) TRAINING AND DEVELOPMENT. B) CONSULTANCY. C) BOTH. D) None of the above. Show Answer Correct Answer: C) BOTH. 17. Which of the following is considered a fixed expense for a small business? A) Office rent. B) Raw materials. C) Shipping costs. D) Sales commissions. Show Answer Correct Answer: A) Office rent. 18. ESOP involves employees purchasing ownership of a retirement plan from a business owner. What does ESOP stand for? A) Employee Share Ownership Plan. B) Entrepreneur Stock Oversight Plan. C) Employee Stock Ownership Plan. D) Entrepreneur Stock Ownership Plan. Show Answer Correct Answer: C) Employee Stock Ownership Plan. 19. Which of the 4Ps looks at the design of an item? A) Place. B) Promotion. C) Product. D) Price. Show Answer Correct Answer: C) Product. 20. Why is succession planning important when planning for the harvest in a family-owned business? A) To minimize taxes. B) To ensure smooth leadership transition. C) To increase marketing efforts. D) To avoid customer engagement. Show Answer Correct Answer: B) To ensure smooth leadership transition. 21. A form of business ownership where 2 or more people share the assets, liabilities and profits. A) Partnership. B) Sole proprietorship. C) Corporation. D) Franchise. Show Answer Correct Answer: A) Partnership. 22. A business that employs 500 or fewer people. A) Small business. B) Corporation. C) Entrepreneurship. D) Factory. Show Answer Correct Answer: A) Small business. 23. A qualitative characteristic of accounting that requires information to be presented clearly and concisely in an understandable fashion is ..... A) Verifiability. B) Timeliness. C) Understandability. D) Relevance. Show Answer Correct Answer: C) Understandability. 24. SWOT Analysis:Opportunities identified in a SWOT Analysis are not meant to be actionable. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 25. What are the government schemes and programs aimed at promoting small businesses in rural India? A) Searching for information on social media. B) Asking friends and family for recommendations. C) Ignoring government resources and trying to figure it out independently. D) Researching government websites, contacting local government offices, or consulting with business development organizations. Show Answer Correct Answer: D) Researching government websites, contacting local government offices, or consulting with business development organizations. ← 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