This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 46 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 46 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is the meaning of 'resilience' in the context of entrepreneurship? A) Flexibility. B) Strength. C) Weakness. D) Failure. Show Answer Correct Answer: B) Strength. 2. Fill in the blank:A ..... is a business structure that allows the company to pass its income, losses, deductions, and credits through its shareholders to decrease their taxation. A) C Corporation. B) Sole Proprietorship. C) Partnership. D) S Corporation. Show Answer Correct Answer: D) S Corporation. 3. Bhavika has created a business plan as part of an assignment for her entrepreneurship class. Her plan is for a screen-printing business. In the ..... section of the business plan, Bhavika discusses current competition, pricing, and promotion. A) Company and Industry. B) Introduction. C) Marketing Plan. D) Benefits to the Community. Show Answer Correct Answer: C) Marketing Plan. 4. A symbol or other design adopted by an organization to identify its products, uniform, vehicles, etc. A) Logo. B) Copyright. C) Trademark. D) Slogan. Show Answer Correct Answer: A) Logo. 5. What is the break-even point? A) Costs incurred by a business for property or equipment. B) Items provided to employees in addition to standard compensation. C) The level of familiarity one has with a brand of item, service, or business. D) The point in which a business' revenue matches with expenses over a given time period. Show Answer Correct Answer: D) The point in which a business' revenue matches with expenses over a given time period. 6. Of all the positive characteristics Ray Kroc possessed, which of the following was the most important to him personally? This was emphasized in the movie The Founder. A) Ray was creative. B) Ray had perseverance. C) All the above. D) None of the above. Show Answer Correct Answer: B) Ray had perseverance. 7. An experienced and trusted advisor. A) Mentor. B) Teacher. C) Coach. D) All the above. Show Answer Correct Answer: D) All the above. 8. Which of the following factors commonly leads to small business failure? A) Not enough planning. B) Too much accumulated debt. C) Unanticipated personal sacrifice. D) All of the above. Show Answer Correct Answer: D) All of the above. 9. One of the following factors show how ineffective your website could be:KLO 3.2 A) A) Higher return of investment. B) B) Higher traffic on the website. C) C) Lower number of visits to the website. D) D) All of the above. Show Answer Correct Answer: C) C) Lower number of visits to the website. 10. Fixed Costs is rent, insurance, property, tates, depreritation, remains the same. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 11. What is the main goal of sales promotion? A) To reduce production costs. B) To provide extra value or incentives to customers. C) To increase brand awareness. D) To improve customer service. Show Answer Correct Answer: B) To provide extra value or incentives to customers. 12. What is the main concept of network marketing? A) Paying a fee to use another company's trademark. B) Recruiting other marketers to create a distribution network. C) Selling and leasing products to start a business. D) Preventing unethical behavior from a business or community. Show Answer Correct Answer: B) Recruiting other marketers to create a distribution network. 13. Which of these is the most important external factor governing recruitments? (KLO 2.3) A) A. Sons of soil. B) B. Labour market. C) C. Unemployment rate. D) D. Supply and demand. Show Answer Correct Answer: C) C. Unemployment rate. 14. Which of the following point highlights the role of small scale business in India A) Contributes to industrialisation and Exports. B) Promotes balance regional development. C) Employment generation. D) All of these. Show Answer Correct Answer: D) All of these. 15. A non-profit has a ..... status A) Tax-exempt. B) Tax liable. C) Non-exempt. D) Low-taxTagsLEGAL STRUCTURES. Show Answer Correct Answer: A) Tax-exempt. 16. CEO reports to COO A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 17. It is often very difficult for small businesses to find suitably premises for rent. The rents might be initially very high. A) Advantage. B) Disadvantage. C) All the above. D) None of the above. Show Answer Correct Answer: B) Disadvantage. 18. Why is it important for businesses to consider sources of finance when starting up? A) To fund their activities and cover various costs such as equipment, stock, and bills. B) To avoid paying taxes. C) To increase employee salaries immediately. D) To reduce the need for marketing. Show Answer Correct Answer: A) To fund their activities and cover various costs such as equipment, stock, and bills. 19. A college graduate creates a startup company that connects volunteers with nonprofits. A) Entrepreneur. B) Manager. C) Small Business Owner. D) None of the above. Show Answer Correct Answer: A) Entrepreneur. 20. Key elements of a business plan include all of the following EXCEPT A) Marketing Plan. B) Vacation Plan. C) Financial Plan. D) Customer Analysis. Show Answer Correct Answer: B) Vacation Plan. 21. Sale of specific line of products by these vendors. A) (a) Speciality shops. B) (b) Mail Order Houses. C) (c ) Secondhand goods shops. D) (d) Departmental stores. Show Answer Correct Answer: A) (a) Speciality shops. 22. Which of the following statements accurately describes the distribution of profits in a sole trader business structure? A) All profits go to the sole trader who has to bear all risks and losses. B) Profits are shared equally among all partners. C) Profits are distributed to shareholders as dividends. D) The owner's personal assets are protected from business liabilities. Show Answer Correct Answer: A) All profits go to the sole trader who has to bear all risks and losses. 23. Small business provides A) More employment opportunities. B) Variety of products. C) Balanced regional development. D) All. Show Answer Correct Answer: D) All. 24. What is the full form of DIC? A) District Investment Corporation. B) District Investment Centres. C) District Industries Corporation. D) District Industries Centres. Show Answer Correct Answer: D) District Industries Centres. 25. Opening a branch of a successful business as a Franchise, is a guaranteed way of making money 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