This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 35 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 35 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Cassia remained positive about selling more cars even when she had a disappointing month of sales. Which characteristic of a successful entrepreneur does this represent? A) Optimistic. B) Creative. C) Flexible. D) None of the above. Show Answer Correct Answer: A) Optimistic. 2. List three characteristics of small businesses. A) Unlimited resources, large number of employees, focus on broad market. B) Abundant resources, diverse workforce, focus on global market. C) Limited resources, small number of employees, focus on niche market. D) Infinite resources, unlimited employees, focus on all markets. Show Answer Correct Answer: C) Limited resources, small number of employees, focus on niche market. 3. Small business support networks are general features of small businesses A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 4. Sam works at a local bookstore. He gets paid a set rate for the hours he works. What type of compensation is Sam receiving? A) Salary. B) Commission. C) Hourly. D) Equity. Show Answer Correct Answer: C) Hourly. 5. Why might a small manufacturing business have an advantage in innovation? A) They have larger research departments. B) They can quickly identify and fill market gaps. C) They have unlimited funding for experiments. D) They don't need to innovate. Show Answer Correct Answer: B) They can quickly identify and fill market gaps. 6. Which of the following is NOT typically included in a Business Plan? A) Explanation of the business. B) Analysis of competition. C) Income/Expense estimates. D) Daily task schedules for employees. Show Answer Correct Answer: D) Daily task schedules for employees. 7. Entrepreneurs must be willing to risk the chance of failure in order to be successful. What important characteristic of entrepreneurs is this? A) Risk-taking. B) Perseverance. C) Creativity. D) Self-confident. Show Answer Correct Answer: A) Risk-taking. 8. What is a key consideration for a small business when choosing between different promotional channels for global marketing? A) The ease of maintaining a website. B) The language and communication preferences of the target audience. C) The local weather conditions. D) The number of employees in the business. Show Answer Correct Answer: B) The language and communication preferences of the target audience. 9. Choose the correct word:harmless A) Flawed. B) Metastatis. C) Benign. D) Malignant. Show Answer Correct Answer: C) Benign. 10. True or false:to fall victim to=succumb to A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 11. There is little evidence that developing a business plan has any impact on whether a new business fails or succeeds. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 12. Why are founder stories considered powerful in branding? A) They showcase big corporations only. B) They lack human connection. C) They resonate with people on a human level. D) They are based on fictional characters. Show Answer Correct Answer: C) They resonate with people on a human level. 13. What is EIN short for? A) Employer Insurance Number. B) Employer Identification Number. C) Entity issued Notification. D) None of the above. Show Answer Correct Answer: B) Employer Identification Number. 14. Small businesses often have an advantage in foreign markets where customers want to deal directly with a company's top management. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 15. An advantage of a sole trader is ..... A) You can share ideas. B) All the debt is on you. C) You have unlimited liability. D) You can make all the decisions. Show Answer Correct Answer: D) You can make all the decisions. 16. How can a small business identify its target market? A) Conducting surveys and focus groups. B) Market research and analyzing customer demographics, psychographics, and behavior. C) Guessing and assuming the target market. D) Copying the target market of a competitor. Show Answer Correct Answer: B) Market research and analyzing customer demographics, psychographics, and behavior. 17. What should be done with paper files containing sensitive information? A) Leave them on the desk. B) Store them in a locked cabinet. C) Share them with everyone. D) Throw them away. Show Answer Correct Answer: B) Store them in a locked cabinet. 18. Great interest in making money is one of the ..... about entrepreneurs. A) Ventures. B) Misconceptions. C) Rewards. D) None of the above. Show Answer Correct Answer: B) Misconceptions. 19. What should be required to access areas of a network with sensitive information? A) Multi-factor authentication. B) Single sign-on. C) Password only. D) Biometric authentication only. Show Answer Correct Answer: A) Multi-factor authentication. 20. If Current Assets = ₹ 6 crore and Current Liabilities (non-bank) = ₹ 2 crore, MPBF (Method I) is: A) 3 Cr. B) 4 Cr. C) 5 Cr. D) 6 Cr. Show Answer Correct Answer: A) 3 Cr. 21. Which is an advantage of using retained earnings for financing? A) Interest payments. B) No set repayment date. C) Limited to previous profits. D) High-interest charges. Show Answer Correct Answer: B) No set repayment date. 22. It is important to keep an eye out for clients who are prepared with SMB documents seeking high-end devices A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. 23. Cottage industries originated because A) It increases income without leaving home. B) It gave persons freedom. C) It helped persons to work. D) It helped person to learn new tasks. Show Answer Correct Answer: A) It increases income without leaving home. 24. Which motivation involves utilizing existing skills, hobbies, or interests? A) Profit generation. B) Employment creation. C) Addressing social causes. D) Pursuing personal goals. Show Answer Correct Answer: D) Pursuing personal goals. 25. This is the personal characteristic of doing something that needs to be done, but without being told to do it: A) Cooperation. B) Collaboration. C) Teamwork. D) Initiative. Show Answer Correct Answer: D) Initiative. ← 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