This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 85 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 85 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. This is someone who takes the initiative of organizing and managing a small business: A) Wholesaler. B) Retailer. C) Entrepreneur. D) Industrialist. Show Answer Correct Answer: C) Entrepreneur. 2. Which Corp uses a double layer of taxation? A) S Corp. B) C Corp. C) LLC. D) Sole ProprietorshipTagsLEGAL STRUCTURES. Show Answer Correct Answer: B) C Corp. 3. Small businesses usually have more complex tax structures than larger corporations. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 4. What are the key factors for the success of small businesses in rural India? A) Urban location and customer base. B) Access to finance, infrastructure, market linkages, and government support. C) Access to technology and innovation. D) Lack of skilled workforce. Show Answer Correct Answer: B) Access to finance, infrastructure, market linkages, and government support. 5. You need to create a legal structure for your small business. Your two startup partners are also from the United States. You have plans for it to grow a little but stay small, with no more than 20 future shareholders. You do not want to be personally responsible for business liabilities. Which legal structure best meets your needs? A) Limited Liability Company. B) Partnership. C) Sole Proprietorship. D) S-Corporation. Show Answer Correct Answer: D) S-Corporation. 6. (adj) Related to money. A) Budget. B) Initial. C) Financial. D) Potential. Show Answer Correct Answer: C) Financial. 7. ..... are also known as Rural industries or Traditional industries A) Food industry. B) Cottage industry. C) Agriculture industry. D) None of the above. Show Answer Correct Answer: B) Cottage industry. 8. In a partnership, what is the role of a silent partner? A) Manages daily business operations. B) Invests money but does not participate in the day-to-day management. C) Acts as the CEO of the company. D) Has unlimited liability. Show Answer Correct Answer: B) Invests money but does not participate in the day-to-day management. 9. Which of these is NOT a risk of setting up a business. A) Losing money. B) Making money. C) Losing time. D) Losing security. Show Answer Correct Answer: B) Making money. 10. This is the term used to describe the first time that the stock of a private company is offered to the public. A) This is a loan from a bank. B) This is a loan from a VC. C) This is an initial public offering (IPO). D) This is a last resort offering (LRO). Show Answer Correct Answer: C) This is an initial public offering (IPO). 11. Which type of business structure is owned and operated by one individual? A) General Partnership. B) Corporation. C) Limited Liability Company. D) Sole Proprietorship. Show Answer Correct Answer: D) Sole Proprietorship. 12. Founder is The person that developed/created/compony/organization A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 13. What is the current connection charge credit for Small Business? A) $ 75 credit 1st/2nd bill. B) $ 5 x 15 month credit 4+ lines. C) $ 25 credit 1st/2nd bill. D) $ 5 x 15 months credit. Show Answer Correct Answer: B) $ 5 x 15 month credit 4+ lines. 14. What is the job of a business manager A) Oversee the activities of workers. B) Ensure that a company or department is on track to meet its financial goals. C) Hire, train and evaluate new employees. D) All of the above. Show Answer Correct Answer: D) All of the above. 15. What is the impact of government assistance on small businesses in rural areas? A) It hinders the growth of small businesses by creating overdependence on government support. B) It results in increased bureaucracy and paperwork for small businesses. C) It leads to more competition, making it harder for small businesses to survive. D) It provides financial stability and resources for small businesses in rural areas. Show Answer Correct Answer: D) It provides financial stability and resources for small businesses in rural areas. 16. This company started business in a garage A) Berkshire Hathaway. B) Bath & Body Works. C) Apple. D) Tesla. Show Answer Correct Answer: C) Apple. 17. Who is responsible for the company's finances and manages cash flow? A) Founder. B) COO. C) CFO. D) CEO. Show Answer Correct Answer: C) CFO. 18. The front glass window for your store is damaged, and it will cost $ 2, 500 for the repairs. You must pay $ 1, 000 before the insurance company pays the rest. The amount that you paid is known as the ..... A) Capital. B) Equity. C) Deductible. D) Premium. Show Answer Correct Answer: C) Deductible. 19. 9-One of the following is an advantage of hiring full time employees:(KLO 1.1) A) Excellent staffing option for small or young businesses. B) Develop company loyalty. C) Instability at work. D) None of the above. Show Answer Correct Answer: B) Develop company loyalty. 20. How many jobs have small businesses added since 1990? A) 2 million. B) 10 million. C) 4 million. D) 8 million. Show Answer Correct Answer: D) 8 million. 21. What is the line limit for Small Business-PERSONAL accounts? A) 5. B) 25. C) 15. D) 10. Show Answer Correct Answer: C) 15. 22. Suatu perusahaan dapat dengan aman menyimpulkan bahwa perusahaannya akan berkinerja baik selama tahun depan jika kondisi ekonomi menguntungkan kondisi di Indonesia A) Benar. B) Salah. C) All the above. D) None of the above. Show Answer Correct Answer: B) Salah. 23. This is a less common source of startup capital for the new business. These investors will want and require partial ownership of the business. A) Family Members. B) Personal Friends. C) Venture Capitalists. D) Bankers. Show Answer Correct Answer: C) Venture Capitalists. 24. What is a key reason for selecting a location close to a target market? A) To reduce travel time for the business owner. B) To increase foot traffic and potential customers. C) To reduce operational costs. D) To find a larger workforce. Show Answer Correct Answer: B) To increase foot traffic and potential customers. 25. What is the primary purpose of the National Small Industries Corporation Ltd.? A) To provide financial assistance to multinational corporations. B) To promote and support small-scale industries in India. C) To regulate large-scale industries in India. D) To oversee the export of goods from India. Show Answer Correct Answer: B) To promote and support small-scale industries in India. ← 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