Business Basics

A single unit business is also called an independent business.

• True

• False

Which form of ownership is run by only one person?

• Sole proprietorship

• Partnership

• Corporation

Which form of ownership is run by stockholders?

• Sole Proprietorship

• Partnership

• Corporation

In a partnership there is no need to sign a contract. Partners should trust each other in business.

• True

• False

An owner of a chain who sells franchises is called a ____________

• Chain owner

• Franchisor

• Franchisee

One of these is NOT a 5 major function of management.

• Planning

• Staffing

• Scheduling

• Leading

A(n) _________________ shows how tasks are organized, who performs them, and the levels of responsibility.

• Operations Manual

• Organizational Chart

• Schedule

• Contract

One of these is NOT an activity for staffing

• Hiring

• Evaluating

• Recruiting

• Listening

Which one of these is an example of upper management of a corporation?

• Kitchen Manager

• Serves

• President

• General Manager

Which one of these is an example of Supervisory Management of a small business?

• CEO

• General Manager

• Kitchen Manager

• Waiter