Hospitality Businesee Quiz

Question 1:Someone who risks resources such as time and money to start and operate a business is a(n) Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •entrepreneur[pic 1]

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Question 2:Businesses which require large amounts of money, equipment and/or land to start and operate are examples of Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •capital-intensive businesses[pic 3]

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Question 3:The individuals who buy the goods and/or services of a business are know as its Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •customers[pic 5]

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Question 4:What is it called when tourist/visitor expenditures get re-spent/invested outside of the local economy within which they were originally made? Type:Multiple Choice Points awarded:0.00 / 1.00 Your answer(s): •an indirect benefit[pic 7]

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Question 5:Individuals or groups that provide the ongoing resources needed to operate a business and have legal title to it are its’ Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •owners[pic 9]

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Question 6:What is a loss? Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •when a business brings in less money than it needs to cover its expenses[pic 11]

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Question 7:Which of the following best describes the tourism multiplier effect? It’s a measure of... Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •how direct tourist/visitor expenditures get re-spent/invested in a region/economy[pic 13]

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Question 8:Which of the following best describes a stockholder? Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •someone who purchases a share or portion of the ownership in a firm[pic 15]

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Question 9:Which of the following best describes an employee? Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •someone under the direction of the business owner or his or her agent who perform tasks and/or provide services in exchange for agreed-upon compensation from the owner[pic 17]

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Question 10:What’s left after all expenses have been subtracted from the revenue brought in from the sale of the goods and/or services a business provides to its customers? Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •profit[pic 19]

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Question 11:Entities or individuals that loan money to a business with an obligation of repayment are known as Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •creditors[pic 21]

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Question 12:When considering the tourism multiplier effect, what is leakage? Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •when tourist/visitor expenditures get re-spent/invested outside of a local economy[pic 23]

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Question 13:Which of the following is an example of a nonprofit organization? Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •The National Restaurant Association[pic 25]

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Question 14:What is profit? Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •what’s left after all expenses have been subtracted from the revenue brought in from the sale of the goods and/or services a business provides to its customers[pic 27]

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Question 15:Suppliers of goods or services of a commercial nature to other businesses are known as Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •vendors[pic 29]

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Question 16:Which of the following best describes a customer? Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •someone who buy the goods and/or services of a business[pic 31]

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Question 17:The individuals or entities that purchase a certificate representing a share or portion of the ownership in a firm are known as Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •stockholders[pic 33]

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Question 18:Firms which primarily turn out tangible products by engaging in activities such as manufacturing, construction, mining, and agriculture are known as Type:Multiple Choice Points awarded:1.00 / 1.00 Your answer(s): •goods-producing businesses[pic 35]