This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 8 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 8 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Kevin organizes employee schedules and makes sure daily store operations run smoothly. A) Entrepreneur. B) Manager. C) Small Business Owner. D) None of the above. Show Answer Correct Answer: B) Manager. 2. Who is responsible for developing the company's vision, strategy, and mission? A) Marketing Manager. B) Chief Financial Officer. C) Chief Executive Officer. D) Human Resources Manager. Show Answer Correct Answer: C) Chief Executive Officer. 3. Most Americans are employed by a small business A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 4. Which of the following is not a role of Small Scale Business in India? A) Advantage of low cost of production. B) Capital Formation. C) Balanced Regional Development. D) Output Generation. Show Answer Correct Answer: B) Capital Formation. 5. 4-A single business where two or more people share ownership. Each partner shares in the profits and losses of the business (KLO 2.5) A) Partnership. B) Corporation. C) Sole proprietary. D) Limited liability organization. Show Answer Correct Answer: A) Partnership. 6. What is cash balance? A) Costs incurred by a business for property or equipment. B) Items provided to employees in addition to standard compensation. C) The amount of cash on-hand a business has at any given time. D) The point in which a business' revenue matches with expenses over a given time period. Show Answer Correct Answer: C) The amount of cash on-hand a business has at any given time. 7. In ..... , the franchisee pays the franchising company for the right to sell trademarked goods. A) A business-format franchise. B) Outlets. C) A product franchise. D) None of the above. Show Answer Correct Answer: C) A product franchise. 8. A small business owner wants to deepen customer relationships through social media. What approach should they use? A) Engaging customers with meaningful and interactive content. B) Posting only promotional materials. C) Using social media to share internal company reports. D) Avoiding responses to customer inquiries. Show Answer Correct Answer: A) Engaging customers with meaningful and interactive content. 9. All entrepreneurship opportunities emerge from inventions and innovations. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 10. According to the Design Thinking Process:Challenge assumptions and create ideas A) Empathize. B) Ideate. C) Define. D) Test. Show Answer Correct Answer: B) Ideate. 11. The method of raising capital by selling company's stock to investors. A) Debt Financing. B) Equity Financing. C) Short Term Financing. D) Long Term Financing. Show Answer Correct Answer: B) Equity Financing. 12. A legally defined type of business ownership in which the business is considered a "person" under the law, and limited liability is granted to the business owner(s). A) Corporation. B) Sole Proprietorship. C) Partnership. D) None of the above. Show Answer Correct Answer: A) Corporation. 13. Non-Profit A) Sole Proprietor. B) S-Corporation. C) Limited Liability Co. (LLC). D) Non-Profit. Show Answer Correct Answer: C) Limited Liability Co. (LLC). 14. What is the Current second line offer discount on SBIS? A) $ 15. B) $ 10. C) $ 5. D) $ 25. Show Answer Correct Answer: D) $ 25. 15. What are the major financial obstacles faced by small businesses in India? A) High taxes and fees. B) Lack of access to capital. C) Low financial literacy among business owners. D) Limited access to banking services. Show Answer Correct Answer: B) Lack of access to capital. 16. What are the downside of crowdfunding? A) Risk damage to the reputation of your business and people. B) You win instead of lose. C) There is no downside. D) None of the above. Show Answer Correct Answer: A) Risk damage to the reputation of your business and people. 17. Management of the assets and liabilities of the business is not a difficult task. A) Advantage. B) Disadvantage. C) All the above. D) None of the above. Show Answer Correct Answer: A) Advantage. 18. The majority of small business owners are aged 39 and younger. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 19. Alexa and Caleb started a new business and they came up with a unique business process. What type of intellectual property should they register to protect their business process? A) Copyright. B) Patent. C) Trademark. D) Trade Secret. Show Answer Correct Answer: B) Patent. 20. This is one of the characteristic of small business that is serve a much smaller area than corporations or larger private businesses A) A. Small Market Area. B) B. Local Area of Operations. C) C. Labor-Intensive. D) None of the above. Show Answer Correct Answer: A) A. Small Market Area. 21. True or false:to defend yourself against an attack=spear pishing A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 22. Small enterprise under manufacturing category is where the investment in plant and machinery is more than ..... but less than ..... A) 25 lakhs, 10 crores. B) 25 lakhs, 5 crores. C) 10 lakhs, 2 crores. D) 10 lakhs, 5 crores. Show Answer Correct Answer: B) 25 lakhs, 5 crores. 23. Connecting 2 or more computers together with the ability to communicate with each other is A) Managing. B) Troubleshooting. C) Networking. D) Analyzing. Show Answer Correct Answer: C) Networking. 24. What is the maximum speed Bell can offer with Multi-gig Internet Tier? A) 10GB. B) 3GB. C) 8GB. D) 9GB. Show Answer Correct Answer: C) 8GB. 25. There are a range of bank accounts which exist because: A) People's needs, incomes and hopes for the future differ so we need a range of accounts so we can choose which is most suitable. B) All people need to lock their money away and not be able to touch it or they'll spend it. C) No-one can survive life without regularly using a credit card. D) Banks are always trying to charge higher fees so the range of accounts they offer will always increase. Show Answer Correct Answer: A) People's needs, incomes and hopes for the future differ so we need a range of accounts so we can choose which is most suitable. ← 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 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