This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 41 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 41 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What does a pitch deck typically present to investors? A) A detailed business plan. B) A brief overview of the business plan. C) A one-page document. D) A lean canvas. Show Answer Correct Answer: B) A brief overview of the business plan. 2. Questionnaire asking various questions about people's interest in a product A) Survey. B) Organizational Structure. C) Hierarchical Structure. D) Learning Based Structure. Show Answer Correct Answer: A) Survey. 3. Use of ..... creates issues in terms of low productivity and uneconomical production. A) Outdated technology. B) Marketing. C) Labour. D) Finance. Show Answer Correct Answer: A) Outdated technology. 4. An entrepreneur has proposed his business plan to a bank with the intention to receive a loan to start his business. This type of funding is known as ..... A) Capital. B) Credit. C) Liabilities. D) Expenses. Show Answer Correct Answer: B) Credit. 5. Why is the ability to present a business plan considered as important as planning and research when raising funds? A) Because it helps in writing the business plan. B) Because it ensures the business plan is properly communicated to potential investors. C) Because it guarantees immediate funding. D) Because it replaces the need for research. Show Answer Correct Answer: B) Because it ensures the business plan is properly communicated to potential investors. 6. The point at which total cost and total revenue are equal, meaning there is no loss or gain for your small business describes which term? A) Business Milestone. B) Compound Interest. C) Break-Even Point. D) Segmentation Methods. Show Answer Correct Answer: C) Break-Even Point. 7. How does the SBA support women and minorities in business? A) By facilitating employee recruitment for women and minorities. B) By organizing global market expansion seminars. C) By offering micro-loans and publishing Spanish-language materials. D) By providing free online courses only. Show Answer Correct Answer: C) By offering micro-loans and publishing Spanish-language materials. 8. What is a characteristic of resiliency? A) Adapting to change, loss, and disappointment. B) Avoiding challenges. C) Ignoring setbacks. D) Relying on stability. Show Answer Correct Answer: A) Adapting to change, loss, and disappointment. 9. What percentage of new businesses fail within the first 5 years according to the slide? A) 50%. B) 70%. C) 90%. D) 80%. Show Answer Correct Answer: C) 90%. 10. Money provided by large investors to finance new products and new businesses A) Start-up financing. B) Venture capital. C) Short-term financing. D) Long-term financing. Show Answer Correct Answer: B) Venture capital. 11. What is the fastest method to expand a business? A) Franchising. B) Starting a non-profit organization. C) Purchasing an existing business. D) Creating a start-up from scratch. Show Answer Correct Answer: A) Franchising. 12. What is one of the actions businesses should take as they grow and experience changes in operations? A) Ignore changes in human resources. B) Incorporate risk management into the core values of the company. C) Decrease the frequency of marketing efforts. D) Limit production to avoid risks. Show Answer Correct Answer: B) Incorporate risk management into the core values of the company. 13. True or False:We sign up clients for B2B discounts through OneView. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 14. What does "net income" mean? A) How many lobsters a fisherman can catch in a day. B) Total profit or loss after adding expenses and revenue. C) Total profit or loss after subtracting expenses from revenue. D) Total revenue from the internet. Show Answer Correct Answer: C) Total profit or loss after subtracting expenses from revenue. 15. Money needed to pay for the current operating activities of a business is referred to as ..... financing. A) Long-term. B) Short-term. C) Absolute. D) Venture. Show Answer Correct Answer: B) Short-term. 16. What are the key traits of successful entrepreneurs? A) Passion, perseverance, self-confidence, creativity, adaptability, and a strong work ethic. B) Intelligence, laziness, and lack of motivation. C) Fear of failure, lack of creativity, and poor communication skills. D) Lack of passion, lack of perseverance, and lack of self-confidence. Show Answer Correct Answer: A) Passion, perseverance, self-confidence, creativity, adaptability, and a strong work ethic. 17. What should be done before allowing any device to connect to your network? A) Ensure it meets your network's security requirements. B) Check its battery level. C) Update its software. D) Install new applications. Show Answer Correct Answer: A) Ensure it meets your network's security requirements. 18. Which is NOT a function of a small business A) Creates employment. B) Provides services large firms are not willing to produce. C) Often reply on the use of local materials. D) Cater to niche markets. Show Answer Correct Answer: C) Often reply on the use of local materials. 19. What challenges do small scale industries face that government policies aim to address? A) Strong international partnerships. B) Limited access to finance, inadequate infrastructure, lack of skilled labor, regulatory hurdles, and market competition. C) Excessive government subsidies. D) High employee turnover. Show Answer Correct Answer: B) Limited access to finance, inadequate infrastructure, lack of skilled labor, regulatory hurdles, and market competition. 20. Identify the correct use of 'their' in a sentence. A) Their business model is unique. B) There business model is unique. C) They're business model is unique. D) The business model is their unique. Show Answer Correct Answer: A) Their business model is unique. 21. Hwan owns his own accounting firm and has just hired his first two employees. He seeks information from ..... who are senior and graduate students in business administration who provide management counseling to small businesses. A) A small-business institute (SBIs). B) The Small Business Administration (SBA) local office. C) A small-business development center (SBDC). D) The Service Corps of Retired Executives (SCORE). Show Answer Correct Answer: A) A small-business institute (SBIs). 22. What can local businesses charge based on their location? A) Federal taxes. B) Local profit. C) Sales tax. D) Property tax. Show Answer Correct Answer: D) Property tax. 23. Which type of business typically prepares financial reports for stakeholders? A) Big Businesses. B) Small Businesses. C) All the above. D) None of the above. Show Answer Correct Answer: A) Big Businesses. 24. Help start new businesses by determining the federal, state and local forms they must file A) Louisiana Secretary of State. B) Louisiana Workforce Commission. C) Louisiana Department of Revenue. D) Louisiana Economic Development. Show Answer Correct Answer: A) Louisiana Secretary of State. 25. James is a graphic designer who works for a marketing agency. Instead of receiving a fixed salary, he gets paid based on the number of designs he completes each month. This motivates him to work faster and complete more designs to increase his earnings. What type of compensation structure is James most likely under? A) Salary. B) Commission. C) Piece Work. D) Equity. Show Answer Correct Answer: C) Piece Work. ← 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