Managing a Small Business


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question 1 of 3

Which one of the following is part of starting and running a small business?

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1. What type of accounting method recognizes income when earned and expenses when incurred?

2. What method of financing is available to small business owners?

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About This Quiz & Worksheet

This quiz and corresponding worksheet will help assess your knowledge of strategies for managing a small business. You'll have to know about financing, marketing, and human resources management related to small businesses.

Quiz & Worksheet Goals

More specifically, you'll answer questions about:

  • The accounting method that recognizes income when earned and expenses when incurred
  • Methods of financing available to small business owners
  • Components of marketing for a small business
  • Processes involved with starting and running a small business
  • Functions of human resources management

Skills Practiced

  • Interpreting information - verify you can read information regarding accounting methods and interpret it correctly
  • Knowledge application - use your knowledge to answer a question about small business financing
  • Reading comprehension - ensure that you draw the most important information from the related business lesson

Additional Learning

The lesson that can give you more information is called Managing a Small Business. This lesson will help you:

  • Identify the various types of business organizations
  • Explain how financial statements can be prepared in a business
  • Appreciate the roles of marketing and employee management to the small business