This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 65 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 65 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The type of business ownership in which all business decisions are the sole responsibility of the owner. A) Sole proprietorship. B) Partnership. C) Corporation. D) Franchise. Show Answer Correct Answer: A) Sole proprietorship. 2. Weyland wants to buy a deli that is for sale, but the owner has put too high a value on the business's goodwill. Goodwill is A) The value of the leftover products the deli gives to the foodbank. B) The value of the donations given to charity. C) The value of the business's reputation under the current owner. D) All of the above. Show Answer Correct Answer: C) The value of the business's reputation under the current owner. 3. Money needed to expand for additional inventory, equipment, marketing cost, employees, etc. is known as which of the following? A) Competitive risk. B) Market analysis. C) Marketing. D) Expansion capital. Show Answer Correct Answer: D) Expansion capital. 4. What is the plural form of 'business'? A) Businesses. B) Business. C) Business's. D) Businesses'. Show Answer Correct Answer: A) Businesses. 5. The current rate of GST in New Zealand is A) 12%. B) 15%. C) 20%. D) 17.5%. Show Answer Correct Answer: B) 15%. 6. A(n) ..... wins because he builds a strong foundation for his company. A) Entrepreneur. B) Franchisee. C) Franchiser. D) None of the above. Show Answer Correct Answer: C) Franchiser. 7. Why is it important to keep the router's software up to date? A) To improve internet speed. B) To enhance security. C) To allow more devices to connect. D) To reduce electricity usage. Show Answer Correct Answer: B) To enhance security. 8. What must individual partners in a partnership do for tax purposes, in addition to the partnership registration? A) Register separately for self-assessment. B) Register for VAT. C) Register for corporation tax. D) Register with Companies House. Show Answer Correct Answer: A) Register separately for self-assessment. 9. The final aim of negotiation is to:(SS 1.B) A) A) reach an agreement. B) B) end a dispute. C) C) implement an agreement between two parties. D) D) win at all cost. Show Answer Correct Answer: C) C) implement an agreement between two parties. 10. Ethics is about doing the ..... thing. A) Profit. B) Right. C) Good. D) None of the above. Show Answer Correct Answer: B) Right. 11. Lonnie Johnson invented the Super Soaker and licensed the product to the Hasbro toy company. He earned over $ 200 million from his invention because he was able to obtain a: A) Patent. B) Coupon. C) All the above. D) None of the above. Show Answer Correct Answer: A) Patent. 12. Which of the following is NOT a form of ownership for small businesses? A) Sole proprietorship. B) Partnership. C) Limited partnership. D) Public corporation. Show Answer Correct Answer: D) Public corporation. 13. Expansion of small enterprises into medium scale units required: A) Less technology upgradation. B) More capital, marketing, and technology upgradation. C) Reducing workforce only. D) Only export incentives. Show Answer Correct Answer: B) More capital, marketing, and technology upgradation. 14. What are the two main bases for categorizing small businesses in India? A) Type of business structure, Market share. B) Number of employees, Business location. C) Customer demographics, Product range. D) Investment in plant and machinery, Annual turnover. Show Answer Correct Answer: D) Investment in plant and machinery, Annual turnover. 15. Favored technique for resolving conflict is:(KLO 3.1) A) A) Negotiating. B) B) Conciliation. C) C) Removal of participants. D) D) Not entertaining them. Show Answer Correct Answer: A) A) Negotiating. 16. To be successful, the entrepreneur must create goods and services needed and wanted by customers. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 17. How can small businesses benefit from networking? A) Networking has no benefits for small businesses. B) Networking can lead to partnerships, collaborations, and referrals, and can provide learning opportunities. C) Networking is only beneficial for large corporations. D) Networking is a waste of time and resources. Show Answer Correct Answer: B) Networking can lead to partnerships, collaborations, and referrals, and can provide learning opportunities. 18. Which agency in Jamaica is responsible for matters relating to intellectual property rights such as Copyright, Trade Marks, and Patents? A) Jamaica Business Development Corporation (JBDC). B) Scientific Research Council (SRC). C) Jamaica Intellectual Property Office (JIPO). D) The Small Business Association of Jamaica. Show Answer Correct Answer: C) Jamaica Intellectual Property Office (JIPO). 19. Handicrafts is an example of which industry A) Domestic. B) Subsistence. C) Cottage. D) Primary. Show Answer Correct Answer: C) Cottage. 20. Biaya tenaga kerja tinggi di industri yang membutuhkan keterampilan khusus A) Benar. B) Salah. C) All the above. D) None of the above. Show Answer Correct Answer: A) Benar. 21. SWOT Analysis:Strengths identified in a SWOT Analysis are new actions a business should implement. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 22. Basic principles and values that govern the business practices of those engaged in promoting products or services to consumers A) Marketing ethics. B) Marketing plan. C) Regulatory bodies. D) Shareholders. Show Answer Correct Answer: A) Marketing ethics. 23. This government agency provides services and helpful information to small business owners A) Small Business Association. B) Small Company Association. C) Internal Revenue Service. D) Federal Emergency Pandemic Relief. Show Answer Correct Answer: A) Small Business Association. 24. Monitoring & controlling computer systems for a business is A) Managing. B) Designing. C) Programming. D) Troubleshooting. Show Answer Correct Answer: A) Managing. 25. Which of the following activities are undertaken by the wholesalers A) Grading of the product. B) Storage. C) Promotion of ggoods. D) All of the above. Show Answer Correct Answer: D) All of the above. ← 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