Chp 18 Business Basics Lesson

Chp 18 Business Basics Lesson

Multiple Choice

A business can be either a single unit or multiple units.

• True

• False

Multiple Choice

The three forms of ownership are ____.

• revenue centers, support centers, and cost centers

• corporation, franchise, and chain

• corporation, partnership, and sole proprietorship

• upper management, middle management, and supervisory management

Multiple Choice

Form of business ownership in which two or more people own the business.

• sole proprietorship

• partnership

• corporation

• chain

Multiple Choice

A business ownership structure that is managed by one person, has total liability, and is easiest to start is a ____.

• sole proprietorship

• partnership

• corporation

• chain

Multiple Choice

Team of people who make decisions for a business.

• Sales.

• Front Desk.

• Management.

• Owner.

Multiple Choice

A franchise is a unit of a chain that has a different ____.

• manager

• owner

• partner

• director

Multiple Choice

A chain is a unit of a franchise that has a different owner.

• True

• False

Multiple Choice

Communication is one of the least important aspects of leadership.

• True

• False

Multiple Choice

There are 5 main functions of management include planning, organizing, staffing, __________, and __________.

• cleaning; communicating

• leading; controlling

• organizing; delegating

• following; directions

Multiple Choice

Planning has three main time frames to consider- before business planning, day-to-day operations, and future planning.

• True

• False

Multiple Choice

What does an organizational chart show?

• shows how tasks are organized, who performs them, and levels of responsibility and authority

• shows who the owners are, and the type of business ownership structure

Multiple Choice

Organizing a business includes deciding how workers can be most efficient.

• True

• False

Multiple Choice

Recruiting, hiring, training, scheduling, evaluating, and compensating are ____ functions.

• staffing

• organizing

• planning

• controlling

Multiple Choice

Making sure that the business accomplishes what it set out to accomplish.

• Leading

• Staffing

• Planning

• Controlling

Multiple Choice

The three most common levels of management are ____.

• corporation, partnership, and sole proprietorship

• franchise, chain, and upper management

• revenue centers, support centers, and cost centers

• upper, middle, and supervisory

Multiple Choice

A revenue center sells products that bring in revenue. A support center provides services that help the revenue centers to make money.

• True

• False

Multiple Choice

Which of the following is a revenue center? (Makes the business money)

• Security.

• Laundry.

• Front-of-the-house.

• Dishwashing.

Multiple Choice

Which of the following is a support center? (Supports the revenue center, doesn't necessarily bring in money)

• Restaurant.

• Accounting.

• Spa.

• Gift shop.