A Quiz On Business Technologies

20 Questions | By Mycnat123 | Updated: Feb 14, 2023 | Attempts: 169

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Understanding types of businesses.

Questions and Answers

1.

What is an advantage of a franchise over a sole proprietorship?
- A.
  
  Franchises can seel stock to start up the business.
- B.
  
  Franchises do not have to work in the business
- C.
  
  Parent company provides training and support to franshisee.
- D.
  
  Parent company will pay all of the franchises's start up costs.
2.

Which is an example of a marketing function for a business?
- A.
  
  Hiring new employees to fill vacancies in the business.
- B.
  
  Placing products in strategic locations in the stores.
- C.
  
  Producing financial statements for the company
- D.
  
  Producing payroll checks for all employees
3.

Which is an example of a marketing function for a business?
- A.
  
  Creating a banner ad for the company website
- B.
  
  Interviewing potential sales employees
- C.
  
  Obraining new products to replace sold stock
- D.
  
  Preparing income statements for the business
4.

Which statement is an example of a human resources function for a business?
- A.
  
  Calling customers to ensure satisfaction
- B.
  
  Obtaining new products to replace sold stock
- C.
  
  Processing new employees' payroll paperwork
- D.
  
  Producting the annual compnay balance sheet
5.

How is a corporation different from a sole proprietorship?
- A.
  
  Corporations are owned by only one person
- B.
  
  Corporations can sell stock to raise money for the business
- C.
  
  Sole proprietorships have limited liability for the owners
- D.
  
  Sole proprietorships require a legal charter to start the business
6.

Goodwill industries helps poor and homeless people with the money raised by selling donated products int heir stores. Goodwill is classified as what kind of business?
- A.
  
  Combination product and service
- B.
  
  For-profit
- C.
  
  Non-profit
- D.
  
  Service provider
7.

Norman and Jones Septic Tank Cleaners are the best septic tank cleaners in Mount Airy. How is Norman and Jones Septic Tank Cleaners classified?
- A.
  
  Combination product and service
- B.
  
  Non-profit
- C.
  
  Product type
- D.
  
  Service provider
8.

What is an example of a marketing function for a business?
- A.
  
  Interviewing potential employees
- B.
  
  Preparing a new TV advertising campaign
- C.
  
  Preparing income statements for the business
- D.
  
  Processing the employee payroll
9.

What is the difference between wants and needs?
- A.
  
  Needs are goods and wants are services
- B.
  
  Needs are necessary for survival, wants are nice to have.
- C.
  
  Needs are nice to have, wants are necessary for survival
- D.
  
  Needs are services and wants are goods
10.

Collecting money from customers, paying taxes, and processing payroll checks are call classified as which type of function?
- A.
  
  Accounting
- B.
  
  Human Resources
- C.
  
  Information Technology
- D.
  
  Operations
11.

How is a corporation different from a sole proprietorship or partnership?
- A.
  
  Corporation has only one or two owners
- B.
  
  Corporation is usually owned by one person
- C.
  
  Corporation requires a legal charter to start.
- D.
  
  The owners of the corporation control the business.
12.

When comparing the four main buiness types, which allows the owner to start selling products most quickly?
- A.
  
  Corporation
- B.
  
  Franchise
- C.
  
  Partnership
- D.
  
  Sole proprietorship
13.

When comparing the four main buisiness types, which has the most risk and rewards for an individual?
- A.
  
  Corporation
- B.
  
  Franchise
- C.
  
  Partnership
- D.
  
  Sole proprietorship
14.

Homeless shelters, the March of Dimes and the Salvation Army are all classifed as which type of business?
- A.
  
  Combination product and service
- B.
  
  For-profit
- C.
  
  Non-profit
- D.
  
  Product type
15.

Which is an example of a marketing function for a business?
- A.
  
  Preparing a loading dock schedule
- B.
  
  Preparing an advertisement for TV
- C.
  
  Preparing an income statement
- D.
  
  Preparing an organizational chart
16.

Which is an example of an information technology function for a business?
- A.
  
  Determining pricing
- B.
  
  Hiring new employees
- C.
  
  Maintaining computers
- D.
  
  Paying employees
17.

What is a difference between consumers and customers?
- A.
  
  Consumers make goods and services
- B.
  
  Consumers purchase goods and services
- C.
  
  Customers make goods and services
- D.
  
  Customers purchase goods and services
18.

The Gap, Dell, and IBM are all classfied as which type of business?
- A.
  
  Combination product and service
- B.
  
  For-profit
- C.
  
  Non-profit
- D.
  
  Service provider
19.

How are franchise and a sole proprietorship alike?
- A.
  
  Can sell stock to raise money
- B.
  
  Easy to start the business
- C.
  
  Owner keeps all profits
- D.
  
  Require a contract to start
20.

Barber shops, dry cleaners, and car repairt shops are all classified as which type of business?
- A.
  
  Combination product and service
- B.
  
  Non-profit
- C.
  
  Product type
- D.
  
  Service provider