This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 31 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 31 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which method of funding will develop with mentors and advisers who are supportive? A) Credit. B) Capital. C) Liabilities. D) Expenses. Show Answer Correct Answer: B) Capital. 2. Cosas necesarias para producir o fabricar un producto o servicio. A) Costos. B) Equipo. C) Materiales. D) Viajes. Show Answer Correct Answer: C) Materiales. 3. Below is not a way to raise capital ..... A) Selling assets. B) Borrowing money from friends. C) Issuing loan. D) Investing in stocks. Show Answer Correct Answer: D) Investing in stocks. 4. What is the percentage of small businesses with African-American, Asian-American, or Hispanic-American ownership? A) 15%. B) 10%. C) 17%. D) 5%. Show Answer Correct Answer: C) 17%. 5. What is included in a business plan ..... A) Break even, cash flow, predictions. B) Product description, business costs, business aims. C) Neither option 1&2. D) Both option 1&2. Show Answer Correct Answer: D) Both option 1&2. 6. In the business model canvas, what component focuses on how a company delivers value to its customers? A) Key Partnerships. B) Customer Segments. C) Value Proposition. D) Revenue Streams. Show Answer Correct Answer: C) Value Proposition. 7. Of all new businesses, A) About one-third are profitable, one-third do not make a profit but continue to operate, and one-third lose money. B) About three-quarters are profitable and one-quarter lose money. C) About one-quarter are profitable and three-quarter lose money. D) About one-half are profitable, one-quarter do not make a profit but continue to operate, and one-quarter lose money. Show Answer Correct Answer: A) About one-third are profitable, one-third do not make a profit but continue to operate, and one-third lose money. 8. What are the 4 Ps of the marketing mix? A) Product, Price, Place, Promotion. B) Product, Price, Promotion, People. C) Product, Place, Promotion, Profit. D) Price, Place, Promotion, Publicity. Show Answer Correct Answer: A) Product, Price, Place, Promotion. 9. True OR FalseSmall industries do not provide ample opportunities for entrepreneurship. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 10. Manufacturing enterprises are classified unto A) Micro small and medium. B) Micro tiny and small. C) Small and medium. D) None of the above. Show Answer Correct Answer: A) Micro small and medium. 11. What does SIDBI act as for banks providing credit to small-scale industries? A) Refinance provider for banks. B) Investment advisor for small-scale industries. C) Loan guarantor for banks. D) Direct lender to small businesses. Show Answer Correct Answer: A) Refinance provider for banks. 12. The possibility of success is known as: A) Opportunity. B) Risk. C) All the above. D) None of the above. Show Answer Correct Answer: A) Opportunity. 13. What are two disadvantages or negatives of owning your own business? A) High failure rate and personal financial risk. B) Creative freedom and low costs. C) High success rate and low stress. D) Easy decision-making and high profits. Show Answer Correct Answer: A) High failure rate and personal financial risk. 14. Benefits of growth to the firms that originate from the organisation itself A) Internal economies of scale. B) External economies of scale. C) Internal diseconomies of scale. D) External diseconomies of scale. Show Answer Correct Answer: A) Internal economies of scale. 15. If you complete the 9 steps for starting your small business, you are guaranteed to have a successful and profitable business. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 16. This is a type of business that is owned & operated by 1 person. A) Sole proprietorship. B) Partnership. C) Corporation. D) Franchise. Show Answer Correct Answer: A) Sole proprietorship. 17. Provide an example of a small business that differentiates itself through exceptional customer service. A) A small boutique hotel that provides personalized service to each guest. B) A large hotel chain with standard services. C) A small grocery store with limited customer interaction. D) A small tech company with no customer support. Show Answer Correct Answer: A) A small boutique hotel that provides personalized service to each guest. 18. What is the Hazard? (Unit 33-KLO 1-3) A) A. is a condition, property or situation with the potential for loss. B) B. Risk is a function of the probability of contact with (or exposure to) a hazard. C) C. Risk evaluation of identified hazards taking into account the existing controls and defences. D) D. Risk assessment of hazards identified through a review of the potential unsafe-acts. Show Answer Correct Answer: A) A. is a condition, property or situation with the potential for loss. 19. What is a business plan? A) Costs incurred by a business for property or equipment. B) Items provided to employees in addition to standard compensation. C) A document which addresses the concept, customers, and capital for a business. D) The point in which a business' revenue matches with expenses over a given time period. Show Answer Correct Answer: C) A document which addresses the concept, customers, and capital for a business. 20. Internal Revenue Service (IRS) A) Federal. B) State. C) Local. D) None of the above. Show Answer Correct Answer: A) Federal. 21. Provide intangible products. A) Manufacturing Business. B) Entrepreneur. C) Service Business. D) Merchandising Business. Show Answer Correct Answer: C) Service Business. 22. What is demand? A) Profit. B) Wanting something or someone. C) Is there a desire for your product or service?. D) Loss of money. Show Answer Correct Answer: C) Is there a desire for your product or service?. 23. A venture business is one that begins without a marketing plan. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 24. What is the penalty for failing to submit a tax return on time in the UK? A) £100 fine and charged tax on the amounts due. B) £500 fine and imprisonment. C) No penalty, just a warning. D) Only interest on the unpaid tax. Show Answer Correct Answer: A) £100 fine and charged tax on the amounts due. 25. Among the following which one is not a problem of small business A) FINANCE. B) RAW MATERIALS. C) LABOUR. D) LAND. Show Answer Correct Answer: D) LAND. ← 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