HTIIB: Unit 3 Practice Quiz

What is the term used to describe the few sentences that sum up the goals of a business into one compelling idea?

• business plan

• vision statement

• revenue

• P&L

What is the final item that Elise’s business plan should include—plans that she and her team are going to take to put her strategies into place?

• intrinsic

• equity

• vision

• action

What document summarizes a company’s income as well as its costs?

• profit and loss statement

• budget

• market mix

• revenue

Samaia works at a hotel and is considered very good with people, always helping guests get the information and services they need for their stay, checking them into their rooms, creating their room keys, and fulfilling other requests. What is Samaia’s MOST likely job at the hotel?

• bell staff

• guest service representative

• line cook

• concierge

What term is used to describe money raised by selling pieces of ownership in the company?

• debt

• credit

• revenue

• equity

What are concrete plans businesses take to flesh out their business strategies so they can meet their goals?

• action plans

• P&L

• revenue

• business plan

What label defines an estimate of income and expenditure?

• budget

• income

• revenue

• P&L