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Managing Small Business Quick Revision

Total questions: 20

Worksheet time: 3mins

Name
Class
Date
1.
In the long run, ethical integrity will keep customers coming back to a business.
a)
True
b)
False
2.
A set of guidelines for maintaining ethics in the workplace. 
a)
Code of Ethics
b)
Code of Conduct
c)
Integrity
d)
Code of Honor
3.

A lawyer believes his client is guilty, but remains professional and represents his client. This is an example of which of the following?

a)

Moral behavior

b)

Unlawful behavior

c)

Ethical behavior

d)

Mannerly behavior

4.

Which of the following should a person NOT do during an ethical decision-making process?

a)

Review the company’s code of ethics

b)

Study laws and regulations of an industry

c)

Consider stakeholders’ interests

d)

Make a choice based on company’s profits

5.

What is a human resources function ?

a)

Responsible for communicating with clients

b)

Responsible for recruiting the right people with required skills

c)

Deals with giving out papers to CEO, managers etc

d)

Deals with the budgeting of the company

6.
Management functions include
a)
Staffing
b)
Resourcing
c)
Organizing
d)
Controlling
7.

It is a document which the borrower gives to the lending institution in exchange for the money he borrowed is called _______.

a)

gift certificate

b)

check

c)

collateral

d)

promissory note

8.

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

9.

Which of the following is classed as a short-term source of finance?

a)

Trade Credit

b)

Venture Capital

c)

Personal Savings

d)

Retained Profit

10.
The amount paid for insurance is the
a)
closing cost
b)
premium
c)
deductible
d)
assessed value
11.
The type of insurance that provides protection against financial loss from medical bills is called
a)
health insurance
b)
coinsurance
c)
life insurance
d)
premium
12.

The following is concerned with developing a pool of candidates in line with the human resources plan.

a)

Development

b)

Training

c)

Recruitment

d)

All the above

13.

Which is not on the job training?

a)

Job rotation

b)

Internship

c)

Coaching

d)

Classroom lectures

14.

______ is the process of choosing the most suitable candidate for the vacant position in the organisation.

a)

Recruitment

b)

Training

c)

Selection

d)

Performance Appraisal

15.
What is not part of the marketing mix (the 4Ps)?
a)
Product
b)
Person
c)
Price
d)
Promotion
16.

Which of the following steps of the consumer decision making process involves comparing the product to expectations and deciding whether it is satisfying or dissatisfying?

a)

Alternative evaluation

b)

Post-purchase evaluation

c)

Information searching

d)

Need identification

17.

Which of the following is not part of the buyer decision proocess?

a)

Information Search

b)

Evaluation of Alternatives

c)

Post Purchase Behavior

d)

All of the other answers are part of the buyer decision process.

18.
The chain of command in an organisation is
a)
the link that exists between different departments
b)
the method of communication used in the organisation
c)
the line of authority flowing down the organisation
19.
The span of control can be defined as
a)
the number of subordinates directly controled by one manager
b)
the number of departments in a business
c)
the number of managers who report directly to each worker
d)
the number of levels in a firm's hierarchy
20.

The relationship which shows who reports to whom in an organization is referred to as:

a)

Chain of command

b)

unity of command

c)

span of control

d)

hierarchy