This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 66 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 66 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following payment methods is NOT evidence in the belief that money is becoming less visible? A) Pay by phone. B) Tap and go. C) Cash sales only. D) Online shopping. Show Answer Correct Answer: C) Cash sales only. 2. Sebuah perusahaan yang menghadapi tingkat persaingan yang tinggidapat menjual produk berkualitas rendah dengan harga tinggi dan sehingga menghasilkan tingkat keuntungan yang tinggi A) Benar. B) Salah. C) All the above. D) None of the above. Show Answer Correct Answer: B) Salah. 3. Ihsan is still using typewriter in his recruitment office, Zaka also started same business but he is computerized his shop, customers are more interested to approach Zaka office, what is the problem of Ihsan's business A) Use of outdated technology. B) Lack of skill. C) Lack of finance. D) None of the above. Show Answer Correct Answer: A) Use of outdated technology. 4. As an incentive, power is supplied to SSIs at a concessional rate of ..... A) 10%. B) 20%. C) 50%. D) 30%. Show Answer Correct Answer: C) 50%. 5. The most likely reason for a sole trader to change into a private limited company is because it wants: A) To share its financial accounts with the public. B) To raise additional finance. C) To benefit from unlimited liability. D) To avoid business continuity. Show Answer Correct Answer: B) To raise additional finance. 6. This is one of characteristic of small business that is identified with its owners; who themselves act as managers A) A. Limited Investment. B) B. Owner-Management. C) C. Sole onwership. D) None of the above. Show Answer Correct Answer: B) B. Owner-Management. 7. Small business makes up what percent of businesses in the U.S.? A) 99.7%. B) 50%. C) 66.7%. D) 100%. Show Answer Correct Answer: A) 99.7%. 8. Entrepreneur A) Someone who creates and owns a business. B) The chance that something bad could happen to an entrepreneur, including loss of time and money. C) Entrepreneurs decide to take after carefully considering the likely costs and benefits. D) None of the above. Show Answer Correct Answer: A) Someone who creates and owns a business. 9. The term EFTPOS stands for: A) Effective free trade at point of sale. B) Electronic funds trade at point of sale. C) Electronic funds transfer at point of sale. D) Electronic funds transfer in protection of sales. Show Answer Correct Answer: C) Electronic funds transfer at point of sale. 10. Five people have come together to start a business which has unlimited liability. Which type of business ownership have the entrepreneurs decided for their start-up? A) Sole trader. B) Partnership. C) Private limited company. D) Public limited company. Show Answer Correct Answer: B) Partnership. 11. What is one of the key benefits of MSMEs in India? A) They are less innovative than large corporations. B) They help in reducing regional disparities. C) They focus solely on urban markets. D) They do not contribute to GDP. Show Answer Correct Answer: B) They help in reducing regional disparities. 12. What is non-cash compensation called? A) Equity. B) Salary. C) Hourly. D) Commission. Show Answer Correct Answer: A) Equity. 13. Almost all people starting small businesses have graduated from ..... A) High school. B) College. C) Graduate school. D) None of the above. Show Answer Correct Answer: A) High school. 14. When a company does not have enough money and other assets to pay creditors, the situation is called A) Negative financing. B) Poor management. C) Owner's delimma. D) Bankruptcy. Show Answer Correct Answer: D) Bankruptcy. 15. Cash Budget Method is mainly used for: A) IT services. B) Seasonal industries like sugar, tea. C) Retail trade. D) Real Estate. Show Answer Correct Answer: B) Seasonal industries like sugar, tea. 16. Why might friends and family be considered an invaluable support network for business people? A) They provide legal advice. B) They offer professional examinations. C) They may have business or financial experience. D) They give out business loans. Show Answer Correct Answer: C) They may have business or financial experience. 17. How does NSIC contribute to the modernization of small-scale industries? A) NSIC contributes to the modernization of small-scale industries by providing financial support, technology access, skill development, and promoting entrepreneurship. B) NSIC only provides marketing support for small-scale industries. C) NSIC does not offer any financial assistance to small businesses. D) NSIC focuses solely on large-scale industrial development. Show Answer Correct Answer: A) NSIC contributes to the modernization of small-scale industries by providing financial support, technology access, skill development, and promoting entrepreneurship. 18. How many pages is a typical business plan? A) 10-100 pages. B) 1-5 pages. C) 200-300 pages. D) 5-10 pages. Show Answer Correct Answer: A) 10-100 pages. 19. What is a business opportunity? A) Costs incurred by a business for property or equipment. B) Items provided to employees in addition to standard compensation. C) A situation an entrepreneur analyzes and evaluates to see if starting a sustainable, profitable business is feasible. D) The point in which a business' revenue matches with expenses over a given time period. Show Answer Correct Answer: C) A situation an entrepreneur analyzes and evaluates to see if starting a sustainable, profitable business is feasible. 20. What does the Industry Background section of a business plan provide? A) Information to understand the shape, size, trends, and key features of the industry. B) A description of the sources of finance and projections for profit and loss. C) A clear and comprehensive description of the business. D) A summary of all the other sections of the business plan. Show Answer Correct Answer: A) Information to understand the shape, size, trends, and key features of the industry. 21. Data that describes a group of people in terms of their age, marital status, family size, ethnic background, gender, education, and income A) Harvesting. B) Demographics. C) Resourcing. D) Actualization. Show Answer Correct Answer: B) Demographics. 22. What is a key feature of the SBA's online learning platform? A) Interactive gaming. B) Celebrity lectures. C) Business management courses. D) Fitness and wellness programs. Show Answer Correct Answer: C) Business management courses. 23. What is a key component of creating a business budget? A) Expanding office space. B) Hiring more employees. C) Increasing marketing spend. D) Understanding cash flow. Show Answer Correct Answer: D) Understanding cash flow. 24. What is the primary legal disadvantage of sole proprietorships? A) Limited liability. B) Unlimited liability. C) Tax complexity. D) Inability to raise capital. Show Answer Correct Answer: B) Unlimited liability. 25. Product/Market Fit:Startups should develop a growth hypothesis before testing their value hypothesis. 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