This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 5 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Lyda Newman's improvement of the ..... was useful for customers of Madam C.J. Walker's product line. A) Hairbrush. B) Ironing board. C) Folding bed. D) Washing machine. Show Answer Correct Answer: A) Hairbrush. 2. Label the items as either a product or a service:"AC repairs" A) Product. B) Service. C) All the above. D) None of the above. Show Answer Correct Answer: B) Service. 3. Choose the correct word:a weakness in a system component that could be exploited to allow unauthorized access or cause service disruptions A) Software vulnerabilities. B) Secure vunerability. C) An exploit. D) Safeguard. Show Answer Correct Answer: A) Software vulnerabilities. 4. Discuss the importance of government schemes for small businesses. A) Small businesses should rely solely on their own resources. B) Government schemes create unfair advantages for small businesses. C) Government schemes are unnecessary for small businesses. D) Government schemes provide financial assistance, training, and support to small businesses, helping them to grow and succeed. Show Answer Correct Answer: D) Government schemes provide financial assistance, training, and support to small businesses, helping them to grow and succeed. 5. Merchant Cash Advance Loans are cash advances on unpaid ..... A) Credit cards. B) Checks. C) Cash. D) Invoices. Show Answer Correct Answer: A) Credit cards. 6. Debt that does not include a promise by a guarantor to repay the loan in the event the debt holder can't. These are riskier and will therefore have a higher interest rate. A) Unsecured Debt. B) Gift. C) All the above. D) None of the above. Show Answer Correct Answer: A) Unsecured Debt. 7. DIC was established in? A) June 1997. B) May 1955. C) May 1978. D) June 1955. Show Answer Correct Answer: C) May 1978. 8. Who typically manages a small business? A) Relatives. B) Professional managers. C) Friends. D) The founders/owners. E) A board of directors. Show Answer Correct Answer: D) The founders/owners. 9. Occurs when customers take an item without paying for it or intentionally pay less than the retail price. A) Shoplifting. B) Pilferage. C) All the above. D) None of the above. Show Answer Correct Answer: A) Shoplifting. 10. Costs that vary based on the units sold by an enterprise. A) Variable Costs. B) Fixed Cost. C) All the above. D) None of the above. Show Answer Correct Answer: A) Variable Costs. 11. A new entrepreneur wants to connect with other social entrepreneurs for support. Which organizations might be most helpful? A) Professional Bodies and Trade Associations. B) The Prince's Trust and UnLtd. C) Friends and Family. D) Chamber of Commerce. Show Answer Correct Answer: B) The Prince's Trust and UnLtd. 12. An example of Application software could be A) WIndows XP. B) Linux OS. C) MS Word. D) McAfee. Show Answer Correct Answer: C) MS Word. 13. How does market segmentation benefit a business? A) It allows for mass production of a single product. B) It helps in identifying the most profitable customers. C) It simplifies the product distribution process. D) It increases the business's operational costs. Show Answer Correct Answer: B) It helps in identifying the most profitable customers. 14. Choose the correct preposition to complete the sentence:'The entrepreneur is interested ..... new business opportunities.' A) In. B) On. C) At. D) For. Show Answer Correct Answer: A) In. 15. What is one of the roles of entrepreneurs in the economy? A) Decreasing job opportunities. B) Importing goods only. C) Creating jobs and boosting innovation. D) Only working in technology sectors. Show Answer Correct Answer: C) Creating jobs and boosting innovation. 16. In a three-level distribution channel, what is added to the mix? A) An agent gets involved on top of wholesalers and retailers, adding a middleman. B) A fulfillment center is used for quick order processing. C) Products are delivered directly from manufacturer to customer. D) Retailers sell products directly to end-users. Show Answer Correct Answer: A) An agent gets involved on top of wholesalers and retailers, adding a middleman. 17. A browser is:KLO 1.3 A) A) software application used to locate, retrieve and display content on the World Wide Web. B) B) Collection of World Wide Web (WWW) files that includes a beginning file called a home page. C) C) is a document commonly written in HTML (Hypertext Markup Language) that is accessible through the Internet. D) D) none of the above. Show Answer Correct Answer: A) A) software application used to locate, retrieve and display content on the World Wide Web. 18. What allows a small online store to stand out from larger retailers? A) A carefully chosen and thoughtfully assembled collection of products or services. B) A larger advertising budget. C) A higher number of employees. D) A larger inventory. Show Answer Correct Answer: A) A carefully chosen and thoughtfully assembled collection of products or services. 19. Which word means a new way of doing things? A) Internet. B) Innovation. C) Interpolation. D) Interpol. Show Answer Correct Answer: B) Innovation. 20. What role does the owner typically play in a small business? A) Acts primarily as an investor. B) Direct involvement in daily operations. C) All the above. D) None of the above. Show Answer Correct Answer: B) Direct involvement in daily operations. 21. A person or a business with a strong credit score and the financial resources that make it likely they will be able to repay any loan. A) Credit-worthy. B) Credit Risk. C) All the above. D) None of the above. Show Answer Correct Answer: A) Credit-worthy. 22. True or False-There is no set up fee involved in setting up a Franchise A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 23. A new business owner is unsure if their business will generate enough income in the first few months. How can a Personal Survival Budget assist in this situation? A) By helping the owner understand their minimum living expenses and make informed funding decisions. B) By predicting the exact sales figures for the business. C) By providing a list of potential customers. D) By guaranteeing a loan from the bank. Show Answer Correct Answer: A) By helping the owner understand their minimum living expenses and make informed funding decisions. 24. How can small businesses compete with larger players through e-commerce? A) By establishing an online presence and reaching a global audience. B) By avoiding online platforms. C) By focusing only on local customers. D) By reducing their product quality. Show Answer Correct Answer: A) By establishing an online presence and reaching a global audience. 25. When using reducing balance interest formula A) The interest rate remains consistent. B) The interest reduces as the amount of the loan reduces. C) The interest is payable each year. D) No interest is charged. Show Answer Correct Answer: B) The interest reduces as the amount of the loan reduces. ← 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 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 10Class 11 Business Studies Chapter 8 Small Business Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books