This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 20 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 20 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Small businesses generate 50% of total employment in American inner cities. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 2. What type of business structure is described by having unlimited liability, four owners who are friends, and being unincorporated? A) Sole trader (Sole proprietorship). B) Partnership. C) Private company (Pty Ltd). D) Public company (Ltd). Show Answer Correct Answer: B) Partnership. 3. What types of taxes are small scale units exempted from? A) Value-added tax, payroll tax, and capital gains tax. B) Income tax, sales tax, and certain local taxes. C) Corporate tax, excise tax, and environmental tax. D) Property tax, luxury tax, and inheritance tax. Show Answer Correct Answer: B) Income tax, sales tax, and certain local taxes. 4. Fill in the blank: ..... is a calculation used to measure a business's monthly cash flow. A) Burn Rate. B) Gross Margin. C) Net Profit. D) Inventory Turnover. Show Answer Correct Answer: A) Burn Rate. 5. Which of the following is not a disadvantages of a partnership? A) Unlimited liability for all partners. B) Possibility of disputes. C) Divided authority. D) Pooled funds and talent. Show Answer Correct Answer: D) Pooled funds and talent. 6. Under this framework, comparative information are not stated in case of any changes in accounting policies and correction of prior-period errors. A) PFRS for Small and Medium Entities. B) PFRS for Small Entities. C) Full PFRS. D) None of the choices. Show Answer Correct Answer: B) PFRS for Small Entities. 7. Which of the following is not a type of itinerant retailers A) Market traders. B) Street stall holders. C) Cheap jacks. D) Peddlers and hawkers. Show Answer Correct Answer: B) Street stall holders. 8. A micro enterprise, where the investment in plant and machinery does not exceed A) 25 lacs. B) 10 lacs. C) 15 lacs. D) None of the above. Show Answer Correct Answer: A) 25 lacs. 9. Fill in the blank:The ..... (CFO) holds a leadership role within a business. The CFO oversees a company's finances. A) Chief Financial Officer. B) Chief Marketing Officer. C) Chief Technology Officer. D) Chief Operations Officer. Show Answer Correct Answer: A) Chief Financial Officer. 10. New Businesses are often discontinued because of A) Low sales. B) Competitive pressure. C) Higher than expected expenses. D) All of the above. Show Answer Correct Answer: D) All of the above. 11. It is easier for large business to meet the precise needs of customers than a small business. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 12. Some negotiation tactics involves:(KLO 2.1) A) A) Listen more than you talk. B) B) Use timing to your advantage. C) C) find the right way to frame the negotiation. D) D) All of the above. Show Answer Correct Answer: D) D) All of the above. 13. How do you calculate profit? A) Subtracting total costs from total revenue. B) Subtracting total revenue from total costs. C) Multiplying the quantity sold by price. D) None of the above. Show Answer Correct Answer: A) Subtracting total costs from total revenue. 14. An idea that has commercial value is ..... A) Non-profit. B) Opportunity. C) Service business. D) Undertaking. Show Answer Correct Answer: B) Opportunity. 15. 8-Rearrange the following steps of recruitment. (KLO 2.5) I. Searching II. Evaluation and control III. Planning IV. Screening V. Strategy development A) III, II, I, V, IV. B) III, V, I, IV, II. C) IV, V, III, I, II. D) II, I, IV, V, III. Show Answer Correct Answer: B) III, V, I, IV, II. 16. What helps you find customers for your business? A) Market research. B) Business credit. C) Business insurance. D) Startup costs. Show Answer Correct Answer: A) Market research. 17. Investors who make investments in a startup or small business and do not expect an immediate or large return on investment; typically "family and friends" . A) Angel Investors. B) Loan. C) All the above. D) None of the above. Show Answer Correct Answer: A) Angel Investors. 18. A person who recognizes a business opportunity and organizes, manages, and assumes the risks of a business enterprise, with the intent of increasing the market value of the business: A) Entrepreneurship. B) Entrepreneur. C) Entrepreneurial. D) Small Business. Show Answer Correct Answer: B) Entrepreneur. 19. Which category of small businesses added over half of the new jobs in 2015? A) Those with 500 employees or more. B) Those with 100-200 employees. C) Those with 100-500 employees. D) Those with 20 employees or less. Show Answer Correct Answer: D) Those with 20 employees or less. 20. Why are small businesses important? A) About 10% of people work for small businesses. B) There are about 100, 000 small businesses in the US. C) A. Nearly half of all jobs in America are working for small businesses. D) There are 10, 000 new jobs created by small businesses every year. Show Answer Correct Answer: C) A. Nearly half of all jobs in America are working for small businesses. 21. How big is the trucking industry in the United States? A) $ 700 billion. B) $ 500 billion. C) $ 1 trillion. D) $ 300 billion. Show Answer Correct Answer: A) $ 700 billion. 22. It is a tool designed to align a product or service with the needs and desires of customers by understanding both the customer perspective and the value offered. A) Value Map. B) Value Proposition Canvas. C) Value Proposition. D) Value Preposition Canvas. E) Value Proposition Map. Show Answer Correct Answer: B) Value Proposition Canvas. 23. Which one of these brands belongs to Unilever? A) Olay. B) Persil. C) Ariel. D) Pampers. Show Answer Correct Answer: B) Persil. 24. Which of the following is NOT a consequence of being deep in debt? A) Owing the money can cause stress and anxiety. B) It can lead to high interest charges. C) You have more than enough money to spend on things you want. D) It can lead to a bad credit rating. Show Answer Correct Answer: C) You have more than enough money to spend on things you want. 25. If you were preparing a business plan, which section would you use to describe your pricing strategy and financial forecasts? A) Financial plan. B) SWOT analysis. C) Market research. D) Operations and resources. Show Answer Correct Answer: A) Financial plan. ← 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