This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 25 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 25 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. How do startups impact employment in India? A) They create job opportunities. B) They reduce the overall workforce. C) They only hire experienced professionals. D) They have no effect on employment rates. Show Answer Correct Answer: A) They create job opportunities. 2. Alexa and Caleb started a new business and they came up with a unique slogan. What type of intellectual property should they register to protect their slogan? A) Copyright. B) Patent. C) Trademark. D) Trade Secret. Show Answer Correct Answer: C) Trademark. 3. Samantha has been running a successful bakery for five years. Her business is profitable, and she is now considering expanding by opening new locations in neighboring towns. To finance this growth, she is looking at different funding options. Which stage of the business life cycle is Samantha's business currently in? A) Take-Off Stage. B) Survival Stage. C) Success Stage. D) Exit Plan Stage. Show Answer Correct Answer: A) Take-Off Stage. 4. Which of the following is considered a product? A) Car detailing. B) Computer repairs. C) Lawn maintenance. D) Clothing. Show Answer Correct Answer: D) Clothing. 5. Which document outlines the funds a business will need to run efficiently? A) Operating budget. B) Marketing plan. C) Business license. D) Sales report. Show Answer Correct Answer: A) Operating budget. 6. Reward A) Someone who creates and owns a business. B) The chance that something bad could happen to an entrepreneur, including loss of time and money. C) What entrepreneurs might gain when starting a business, including money, personal satisfaction, independence, or positive impact on the economy or community. D) None of the above. Show Answer Correct Answer: C) What entrepreneurs might gain when starting a business, including money, personal satisfaction, independence, or positive impact on the economy or community. 7. The McDonald brothers perfected A) The speedy system of using carhops to deliver food. B) The speedy service system for delivery of food quickly. C) All the above. D) None of the above. Show Answer Correct Answer: B) The speedy service system for delivery of food quickly. 8. A(n) ..... is an invention or creation that is brand new. A) Start-up. B) Innovation. C) Venture capital. D) None of the above. Show Answer Correct Answer: B) Innovation. 9. Which of the following people will be the most financially disadvantaged/worse off at the end of one year? A) Aaron who earns $ 100 per week but lives with his parents who pay for all his expenses. B) Billy who earns $ 100 per week and who pays his parents $ 20 board per week but has no other expenses. C) Candice who earns $ 200 per week but has expenses of $ 110 per week. D) Darius who earns $ 300 per week but has expenses of $ 230 per week. Show Answer Correct Answer: D) Darius who earns $ 300 per week but has expenses of $ 230 per week. 10. Which of the following is not related to SSIs? A) Lack of collateral security. B) Lack of personal touch. C) Lack of funds. D) Lack of managerial skills. Show Answer Correct Answer: B) Lack of personal touch. 11. Which one is not considered as an incentive to small business A) Land. B) Power. C) Sales tax exemption. D) Technology. Show Answer Correct Answer: D) Technology. 12. What is an example of a service business? A) A bookstore. B) A restaurant. C) A consulting firm. D) A clothing retailer. Show Answer Correct Answer: C) A consulting firm. 13. The recipe of Coca Cola is known as: A) Trademark. B) Trade secret. C) Copyright. D) Patent. Show Answer Correct Answer: B) Trade secret. 14. An employee who is paid a percentage of a sale is paid by ..... A) Salary. B) Hourly. C) Commissions. D) None of the above. Show Answer Correct Answer: C) Commissions. 15. What is a important item for a small business that acts like a blueprint for the company's success. A) A strong business plan. B) A large number of employees. C) High product prices. D) Little to no marketing. Show Answer Correct Answer: A) A strong business plan. 16. The unique feature of copyright is that: A) Protection starts only after registration. B) Protection starts from the moment the work comes into existence. C) Only literary works are covered. D) Only inventions are protected. Show Answer Correct Answer: B) Protection starts from the moment the work comes into existence. 17. Which type of entrepreneurship is often associated with large corporations and established companies? A) Corporate Entrepreneurship. B) Online Entrepreneurship. C) Social Entrepreneurship. D) Small Business Entrepreneurship. Show Answer Correct Answer: A) Corporate Entrepreneurship. 18. In this business structure, at least two individuals share the management, profit, and liability of a business. A) Corporation. B) Sole Proprietorship. C) Partnership. D) None of the above. Show Answer Correct Answer: C) Partnership. 19. TRUE or FALSEEveryone who owns or manages a business is an entrepreneur. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 20. The ability to borrow money or access goods or services with the understanding that you'll pay later. A) Credit. B) Debt. C) All the above. D) None of the above. Show Answer Correct Answer: A) Credit. 21. Which is a disadvantage of an S Corp? A) They have tax rates. B) There are very strict qualification requirements for becoming an S Corp. C) There is a limited # of allowed S Corps. D) They have double taxationTagsLEGAL STRUCTURES. Show Answer Correct Answer: B) There are very strict qualification requirements for becoming an S Corp. 22. What is a benefit of having of being a franchisee? A) Higher costs. B) Ability to buy at a discount due to parent company connections. C) No volume discount. D) Limited product access. Show Answer Correct Answer: B) Ability to buy at a discount due to parent company connections. 23. Which of the following is the apex institution for the promotion and financing of small-scale industries in India? A) SIDBI. B) RBI. C) SEBI. D) NABARD. Show Answer Correct Answer: A) SIDBI. 24. What is the first stage in the business life cycle? A) Maturity. B) Survival of the Fittest. C) Existence. D) Take off. Show Answer Correct Answer: C) Existence. 25. TRUE or FALSEMost small business owners enjoy being part of a team. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. ← 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