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Small Business Management Quiz

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1. What must a small business do to be considered viable?

2. What is a key advantage of small businesses compared to larger corporations?

3. Which component is not typically included in a business plan?

4. What is the difference between profit and cash flow in a small business?

5. Why is customer relationship management (CRM) important for small businesses?

6. In small business management, what does the term 'scaling' typically refer to?

7. What is the key purpose of a SWOT analysis for a small business?

8. Which accounting method records revenues and expenses when they are earned and incurred, respectively?

9. What is a unique selling proposition (USP) in the context of small business management?

10. Which of the following is not a typical characteristic of an entrepreneur?