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Small Business Analysis Models Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. In a SWOT analysis, the columns describe _______ and the rows describe _______:

Question 2 2. What three things do you need in order to perform a break-even analysis?

Question 3 3. Why is it important for companies to evaluate managerial decisions using a SWOT Analysis?

Question 4 4. What things do you need to consider when calculating the average cost to make each product?

Question 5 5. What does SWOT stand for?

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Question 6 6. Jessica has just conducted a SWOT analysis of her firm. What should her next steps be?

Question 7 7. Joe's supervisor has asked how long it will take for him to finish a project. Joe anticipates a 'best case' scenario of 4 hours, a 'worst case' scenario of 8 hours, and a 'probable' scenario of 5 hours. Using the formula to calculate 'Expected Time', Joe should tell his supervisor the project will take _____.

Question 8 8. The acid ratio is also known as the:

Question 9 9. The first steps management should consider determining the feasibility of a new project or expansion project is to determine:

Question 10 10. Why is a unique selling proposition important for a company?

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Question 11 11. Why would we prepare a situational analysis?

Question 12 12. A company has $35,000 in current assets, $15,000 in long term assets, $25,000 in current liabilities and $45,000 in long term liabilities. What is its current ratio?

Question 13 13. What does PERT stand for?

Question 14 14. In a situational analysis, what areas of the business need to be analyzed?

Question 15 15. Which of the following is a computation used to measure a company's ability to pay its short term debt?

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Question 16 16. Pessimistic Time is defined as _____.

Question 17 17. Calculate the BEQ when you have a fixed monthly cost of $2000, an average cost per product of $20 and an average sales price per product of $50.

Question 18 18. Once the important questions are answered during the SWOT analysis, managers can begin to place the strengths, weaknesses, opportunities, and threats in the appropriate quadrant of the _____.

Question 19 19. What is the cash ratio for a company with $10,000 in the bank, $25,000 in the 30-day CDs, and $30,000 in current liabilities?

Question 20 20. What must be done before a PERT analysis can take place?

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Question 21 21. Calculate the BEQ when you have a fixed monthly cost of $1500, an average cost per product of $4, and an average price per product of $7.

Question 22 22. Optimistic Time is defined as _____.

Question 23 23. What is a situational analysis in marketing?

Question 24 24. What would a current ratio of 1 tell us about a company?

Question 25 25. What does it mean when you have a BEQ of 400?

Small Business Analysis Models Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next question. You can skip questions if you would like and come back to them later with the "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. You will lose your work if you close or refresh this page. Good luck!

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