This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 73 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 73 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which type of small business is owned and operated by a single individual? A) Partnership firm. B) Joint stock company. C) Sole proprietorship. D) Cooperative society. Show Answer Correct Answer: C) Sole proprietorship. 2. Which market segment shows how a customer views the world? A) Psychographic. B) Demographic. C) Geographical. D) Behavioral. Show Answer Correct Answer: A) Psychographic. 3. Operating Cycle = Inventory days + Receivable days ..... ? A) Payable days. B) Stock days. C) Interest days. D) Liability days. Show Answer Correct Answer: A) Payable days. 4. Advertising can force some buyers to feel as though they must conform to peer group pressure-this term refers to: A) The added pressure to buy before a sale is over. B) The added pressure to acquire an item which will improve their life. C) The added influence of needing to just be like the smart good looking people in advertisements. D) The added influence of people within a similar group such as a school, sports or other group. Show Answer Correct Answer: D) The added influence of people within a similar group such as a school, sports or other group. 5. Identify the correct sentence structure for a business introduction. A) The business was started by John, a small entrepreneur. B) John, a small entrepreneur, started the business. C) A small entrepreneur, John started the business. D) Started by John, the business was a small entrepreneur. Show Answer Correct Answer: B) John, a small entrepreneur, started the business. 6. Which is considered a type of Intellectual Property Right in India? A) Copyright. B) Trademark. C) Patent. D) All of these. Show Answer Correct Answer: D) All of these. 7. When starting your own business you should be ..... of all positive risks. A) Aware. B) Able. C) Sure. D) None of the above. Show Answer Correct Answer: A) Aware. 8. What is included in the Organizational Chart? A) The marketing strategies to be employed. B) The structure and hierarchy of the organization. C) The personal details of the owners. D) The financial projections of the company. Show Answer Correct Answer: B) The structure and hierarchy of the organization. 9. Why is customer service important for small businesses? A) It helps reduce production costs. B) To retain repeat business. C) It decreases employee needs. D) It eliminates the need for marketing. Show Answer Correct Answer: B) To retain repeat business. 10. When greeting a customer, which of the following actions are acceptable? A) Shaking hands. B) Elbow bumping. C) Asking the customer to stand in front of the plexi sneeze guard. D) None of the above. Show Answer Correct Answer: C) Asking the customer to stand in front of the plexi sneeze guard. 11. What does competitive advantage refer to? A) The number of products sold. B) The size of the company. C) Unique strengths that allow a company to outperform competitors. D) The ability to sell products at a lower price. Show Answer Correct Answer: C) Unique strengths that allow a company to outperform competitors. 12. Which business function in big businesses is responsible for automated systems to produce large quantities of products? A) Operations Management. B) Logistics. C) Marketing. D) Human Resources Management. Show Answer Correct Answer: A) Operations Management. 13. An entrepreneur has 3 investors that have contributed money towards the start of his business. This type of funding is known as ..... A) Credit. B) Capital. C) Liabilities. D) Expenses. Show Answer Correct Answer: B) Capital. 14. Which theory states that job satisfaction and job dissatisfaction are not opposites? A) Herzberg's Two Factor Theory. B) Maslow's Hierarchy of Needs. C) All the above. D) None of the above. Show Answer Correct Answer: A) Herzberg's Two Factor Theory. 15. C-Corporation is the best option for domestic companies. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 16. Which of the following is NOT available for copyright protection? A) Literary work. B) Artistic work. C) Musical work. D) Assembling. Show Answer Correct Answer: D) Assembling. 17. You should feel free to wear pajama pants to work. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 18. A U.S. government agency that helps small business owners obtain financing and other support for their companies is the A) Small Business Administration (SBA). B) U. S. Trade and Development Agency. C) Department of Housing and Urban Development. D) Service Corps of Retired Executives (SCORE). Show Answer Correct Answer: A) Small Business Administration (SBA). 19. (v) To do as well as or better than others. A) Combine. B) Compete. C) Produce. D) Project. Show Answer Correct Answer: B) Compete. 20. A business plan is NOT intended for A) Your competition. B) Potential investors. C) Your bank. D) None of the above. Show Answer Correct Answer: A) Your competition. 21. In an unlimited partnership, if there is debt to be paid, who has to pay it? A) The person who started the business. B) The partners only have to pay up to the amount they invested. C) The franchisor. D) The partners have equal responsibility to pay all the debts. Show Answer Correct Answer: D) The partners have equal responsibility to pay all the debts. 22. An organization that is set up to help those in need, and may make money, but uses it for the sole purpose to further it's goal, not to become rich. A) Profit business. B) Non-profit business. C) Retail business. D) None of the above. Show Answer Correct Answer: B) Non-profit business. 23. Which of the following is true about e-commerce? A) It only involves selling services. B) It eliminates the need for physical stores. C) It involves shipping costs for physical products. D) It is only used for digital products. Show Answer Correct Answer: C) It involves shipping costs for physical products. 24. What distinguishes a service business from a retail business? A) Service businesses sell physical products. B) Service businesses offer expertise and time rather than goods. C) Service businesses always have storefronts. D) Service businesses only operate online. Show Answer Correct Answer: B) Service businesses offer expertise and time rather than goods. 25. Which of the following is not recognised as an advantage of online shopping? A) Online shopping allows you to search for the best price before you buy. B) Online shopping allows you to search for the best features before you buy. C) Online shopping means you may lose track of your spending. D) Online shopping means you can purchase goods without leaving the comfort of your home. Show Answer Correct Answer: C) Online shopping means you may lose track of your spending. ← 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