This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 82 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 82 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The CANSTAR website is an example of a site which includes all the information you need to be able to check your: A) Loan interest rate. B) Loan repayment date. C) Credit rating. D) Taxation liability. Show Answer Correct Answer: C) Credit rating. 2. Entrepreneurs who guide and support their employees to grow the business and be a role model for others are A) A leader. B) A risk taker. C) Creative. D) Ambitious. Show Answer Correct Answer: A) A leader. 3. What are two volunteer groups that provide free management consulting for small business owners through the SBA? A) Consulting Executives Alliance and Business Support Group. B) Service Corps of Retired Executives and Active Corps of Executives. C) Senior Corps and Business Corps. D) Management Volunteers Network and Business Mentor Association. Show Answer Correct Answer: B) Service Corps of Retired Executives and Active Corps of Executives. 4. Risiko bagi pemilik bisnis yang memiliki perusahaan terbatas, karena mereka dijamin menerima inisialnya investasi kembali A) Benar. B) Salah. C) All the above. D) None of the above. Show Answer Correct Answer: B) Salah. 5. Bank overdraft is A) Available for all business. B) Classified as a current liability. C) Free from interest. D) Ongoing for a business. Show Answer Correct Answer: B) Classified as a current liability. 6. Low start up costs and control over decisions is an advantage of what type of business ownership A) Franchise. B) Partnership. C) Sole Trader. D) Limited liability. Show Answer Correct Answer: C) Sole Trader. 7. What is the Small Business Administration (SBA) responsible for? A) Providing financial, technical, and management assistance. B) Enforcing business regulations and laws. C) Promoting large corporations. D) Supporting non-profit organizations. Show Answer Correct Answer: A) Providing financial, technical, and management assistance. 8. Assets that are not already pledged as a guarantee to repay another loan. A) Unencumbered Assets. B) Credit. C) All the above. D) None of the above. Show Answer Correct Answer: A) Unencumbered Assets. 9. A business owned by people who purchase stock in the company. These businesses are granted a charter by the state in which they are formed. A) Industrial Organization. B) Corporation. C) Partnership. D) Proprietorship. Show Answer Correct Answer: B) Corporation. 10. What's the difference between entrepreneurs and small business owners? A) Small business owners are more willing to take on unknown risks. B) Entrepreneurs are focused on producing profits. C) Small business owners are not always interested in taking on new business opportunities. D) Entrepreneurs are not always interested in taking on new business opportunitiesTagsgeneral. Show Answer Correct Answer: C) Small business owners are not always interested in taking on new business opportunities. 11. How many qualitative characteristics are there? A) 6. B) 5. C) 4. D) 7. Show Answer Correct Answer: A) 6. 12. What are the four steps in the entrepreneurial process? A) Identifying opportunities, accessing resources, building the right team, assessing the fit between elements. B) Market research, product development, financial planning, management. C) Hiring employees, setting up a website, advertising, sales. D) Networking, attending events, social media marketing, customer service. Show Answer Correct Answer: A) Identifying opportunities, accessing resources, building the right team, assessing the fit between elements. 13. Patents can only be filed to get rights over an invention not discovery. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 14. Loans need a ..... % down payment A) 5. B) 7. C) 10. D) 20. Show Answer Correct Answer: C) 10. 15. In which step of the sales process would a customer decide to purchase a product? A) Objection. B) Approach. C) Closing. D) Presentation. Show Answer Correct Answer: C) Closing. 16. Why do people start small businesses? A) They have an original product or idea. B) They see a need and decide to fill it. C) They can't find a job so they create one. D) Any of these reasons and many more. Show Answer Correct Answer: D) Any of these reasons and many more. 17. Is Applying for licenses and permits unnecessary A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: B) No. 18. What advantage does having a curated selection in a small online store provide? A) It offers a unique and tailored offering to customers. B) It reduces the cost of goods sold. C) It allows for international shipping. D) It increases the number of employees. Show Answer Correct Answer: A) It offers a unique and tailored offering to customers. 19. A small business pays $ 500 per month for internet service. What type of expense is this? A) Variable expense. B) Fixed expense. C) One-time expense. D) Capital expense. Show Answer Correct Answer: B) Fixed expense. 20. What are the advantages and disadvantages of online marketing for a small business? A) Advantages:wider reach, cost-effectiveness, targeted advertising, measurable results. Disadvantages:increased competition, technical challenges, continuous updates and monitoring. B) Dependency on internet connectivity, limited offline presence. C) Potential for negative online reviews, damage to reputation. D) Limited customer interaction, lack of personal touch. Show Answer Correct Answer: A) Advantages:wider reach, cost-effectiveness, targeted advertising, measurable results. Disadvantages:increased competition, technical challenges, continuous updates and monitoring. 21. It is becoming more and more common to sell products and services A) Through storefronts. B) At markets. C) Through wholesaling. D) Online. Show Answer Correct Answer: D) Online. 22. What type of devices should have up-to-date antivirus software? A) Only desktop computers. B) Only tablets. C) All devices connecting to the network. D) Only gaming consoles. Show Answer Correct Answer: C) All devices connecting to the network. 23. Which tool is most useful in helping Customer Service support sales strategies? A) Contact list. B) Remote Desktop. C) Customer Relationship Management (CRM). D) Website. Show Answer Correct Answer: C) Customer Relationship Management (CRM). 24. How does the investment ceiling affect the growth of small businesses? A) The investment ceiling can hinder the growth of small businesses by restricting access to necessary capital. B) The investment ceiling provides small businesses with guaranteed funding. C) The investment ceiling encourages small businesses to innovate more. D) The investment ceiling has no impact on small businesses at all. Show Answer Correct Answer: A) The investment ceiling can hinder the growth of small businesses by restricting access to necessary capital. 25. Which of the following statements about new businesses is true? A) Most new businesses survive past their first year. B) Most new businesses do not survive past their first year. C) All the above. D) None of the above. Show Answer Correct Answer: B) Most new businesses do not survive past their first year. ← 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