Can You Answer These Business Basics Questions?

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Quizzes Created: 1 | Total Attempts: 348

Questions: 9 | Attempts: 348 | Updated: Nov 16, 2023

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Can You Answer These Business Basics Questions? - Quiz

This quiz will test your knowledge about the content of Chapter 15

Questions and Answers

1.

A single - unit business is also called a(n)
- A.
  
  Unibusiness
- B.
  
  Independent business
- C.
  
  All-in-one business
- D.
  
  Location limited business
Correct Answer
B. Independent business

Explanation
An independent business refers to a single-unit business that operates on its own, without any affiliations or partnerships with other businesses. This term emphasizes the autonomy and self-reliance of the business, highlighting its ability to make decisions and operate independently.

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2.

There are three management levels. Which one is closest to the workers?
- A.
  
  Upper Management
- B.
  
  Supervisory Management
- C.
  
  Middle Management
- D.
  
  Divisional Management
Correct Answer
B. Supervisory Management

Explanation
Supervisory management is closest to the workers because they directly oversee and guide the day-to-day activities of employees. They are responsible for ensuring that tasks are completed efficiently and effectively, providing feedback and support to workers, and addressing any issues or concerns that may arise. Supervisory managers typically have a direct line of communication with workers and play a crucial role in maintaining a productive and harmonious work environment.

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3.

The five management functions are: Planning, Leading, Staffing, Firing and Controlling.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
The given statement is false because the correct five management functions are: Planning, Organizing, Leading, Staffing, and Controlling. Firing is not considered as one of the management functions.

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4.

A division that sells a product that brings a business money is called a revenue center.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
A division that sells a product that brings a business money is called a revenue center because it generates revenue for the business through its sales activities. This division is responsible for generating income and contributing to the overall financial success of the company.

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5.

Hotels are typically divided between the rooms division and the Food and Beverage division. However, there may be other divisions in the hotel. What are they?
- A.
  
  Security
- B.
  
  Accounting
- C.
  
  Sales
- D.
  
  Human Resources
- E.
  
  ALL OF THE ABOVE
Correct Answer
E. ALL OF THE ABOVE

Explanation
The correct answer is ALL OF THE ABOVE. In addition to the rooms division and the Food and Beverage division, hotels may have other divisions such as Security, Accounting, Sales, and Human Resources. These divisions are essential for the smooth functioning of the hotel and to ensure that all aspects of the business are properly managed and maintained.

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6.

A sole proprietor is the sole owner and operator of the business
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
A sole proprietor is a type of business ownership where a single individual owns and operates the business. This means that the individual has complete control over the business and is solely responsible for its operations, profits, and losses. There are no partners or shareholders involved in the business, making the sole proprietor the sole owner. Therefore, the given statement that a sole proprietor is the sole owner and operator of the business is true.

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7.

The people who are responsible for the running of the ENTIRE company.
- A.
  
  Upper Management
- B.
  
  Supervisory Management
- C.
  
  Middle Management
- D.
  
  Crooks (see AIG)
Correct Answer
A. Upper Management

Explanation
Upper management refers to the individuals who hold the highest positions within a company and are responsible for making important strategic decisions that impact the entire organization. They oversee the overall operations, set goals, and define the company's vision and mission. Upper management includes top-level executives such as CEOs, presidents, and vice presidents. They have the authority to make final decisions and are accountable for the success or failure of the company.

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8.

True or False : Restaurants have two main divsions, Front of the house and Back of the house.
- A.
  
  True
- B.
  
  False
- C.
  
  I slept through this class when they taught this
Correct Answer
A. True

Explanation
Restaurants typically have two main divisions, the front of the house and the back of the house. The front of the house refers to the areas that are visible to the customers, such as the dining area, host stand, and bar. This is where guests are greeted, seated, and served. On the other hand, the back of the house includes the kitchen, storage areas, and offices, where food is prepared, cooked, and stored. These two divisions work together to ensure the smooth operation of a restaurant.

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9.

Explain in one paragraph the three types of business ownership (sole proprietorship, partnership, corporation).

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Current Version
Nov 16, 2023

Quiz Edited by
ProProfs Editorial Team
Mar 24, 2009

Quiz Created by
Justinktadlock

Can You Answer These Business Basics Questions?

A single - unit business is also called a(n)

There are three management levels. Which one is closest to the workers?

The five management functions are: Planning, Leading, Staffing, Firing and Controlling.

A division that sells a product that brings a business money is called a revenue center.

Hotels are typically divided between the rooms division and the Food and Beverage division. However, there may be other divisions in the hotel. What are they?

A sole proprietor is the sole owner and operator of the business

The people who are responsible for the running of the ENTIRE company.

True or False : Restaurants have two main divsions, Front of the house and Back of the house.

Explain in one paragraph the three types of business ownership (sole proprietorship, partnership, corporation).