Can You Answer These Business Basics Questions?

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

Unibusiness

Independent business

All-in-one business

Location limited business

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.

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.

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

True

False

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.

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.

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

Upper Management

Supervisory Management

Middle Management

Crooks (see AIG)

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.

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.

4. 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?

Security

Accounting

Sales

Human Resources

ALL OF THE ABOVE

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.

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.

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

True

False

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.

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.

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

True

False

I slept through this class when they taught this

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.

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.

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

True

False

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.

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.

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

Upper Management

Supervisory Management

Middle Management

Divisional Management

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.

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.