Ferguson * Biz Principles* Dec Quiz 1 - 33 Questions

A coach may be a:

• Leader
• Trainer
• Supervisor
• All of these

A not-for-profit business is one which uses the money it makes to:

• Help the organization
• Become wealthy
• Spend at amusement parks
• Buy tickets to the movies

Seeing the "big picture" is called having ________ skills.

• Conceptual
• Technical
• Human
• Individual

A person who passes on information to others by phone, in meetings, and by phone.

• Disseminator
• Figurehead
• Leader
• Counselor

A written document that describes all the steps necessary in opening and operating a successful business is called a:

• Business plan
• Cover letter
• Memorandum
• Financial statement

Financial statements based on projected revenues and expenses are:

• Pro forma financial statements
• The accountants bill
• Convention confirmation
• Scheduling error

Weekly or monthly payments made by the owner of the franchise to the seller of the franchise are:

• Royalty fees
• Dividends
• Liabilities
• Values

A business owned exclusively by one person is a:

• Sole proprietorship
• Partnership
• Corporation
• Equity

A person who sells businesses for a living is a:

• Business broker
• Real estate agent
• Commercial buyer
• Agency director

Fee the franchise owner pays in return for the right to run the franchise is the:

• Initial franchise fee
• Royalty fee
• Dividend
• Advertising fee