Business Quiz

what is business ?

• It is a transaction

• It is a profit

• it is a organisation

• it is a transaction of trade for profit making

A business that engages in finance, sales, or reselling is a __________ business

• commercial

• service

• industrial

• financial

a bank is an example of what type of business?

• commercial

• service

• industrial

• real estate

In a franchise relationship, the entity who is the person leasing the rights of his/her tools of business is referred to as the __________?

• franchisor

• franchisee

• franchizor

• lessee

What is a supplier?

• A business which sells (or supplies) products to another business.

• Any person or organisation which buys or is supplied with a product or by a business.

• The person who ultimately uses (or consumes) a product.

• The wants and desires of buyers of a product or the customers of a business.

What is a customer?

• Those who provide data for a survey usually by answering questions in a questionnaire or interview.

• A business which sells (or supplies) products to another business.

• A group of similar products made by a business like a number of different soap products.

• Any person or organisation which buys or is supplied with a product or by a business.

In a franchise agreement the payment, every year, to utilize all the tools of the franchisor, is called ___________?

• royalty

• franchise

• business agreement

• license fees

A business agreement where the person who is buying into the business gets a vast array of tools but pays a fee to use them every year

• franchise

• royalty

• parent company

• sister company

In a franchise relationship, the entity who is the person leasing the rights of his/her tools of business is referred to as the __________?

• franchisor

• franchisee

• franchizor

• lessee

A type of business that makes goods that other businesses use to make goods or services

(a)