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Practice Test

Chapter 2: Types of Retail Businesses

Practice Test
      
  1.NAICS has classified the retail industry into ten categories.  
  a.   TRUE  
  b.   FALSE  
      
  2.Sales associates sell both goods and services.  
  a.   TRUE  
  b.   FALSE  
      
  3.Chain stores have at least two locations.  
  a.   TRUE  
  b.   FALSE  
      
  4.Merchandise variety refers to the number of items in each merchandise line.  
  a.   TRUE  
  b.   FALSE  
      
  5.Cooperatives, or co-ops, are owned by one person.  
  a.   TRUE  
  b.   FALSE  
      
  6.NAICS refers to:  
  a.   National Association of Industry and Company Standards  
  b.   North American Industry Correlation Standards  
  c.   North American Free Trade Agreement  
  d.   North American Industry Classifaction System  
      
  7.Which of the following is not a NAICS retail industry category?  
  a.   motor vehicle and parts dealers  
  b.   gasoline stations  
  c.   television stations  
  d.   health and personal care stores  
      
  8.This allows a business to lease its trade name of a business system to another business entity:  
  a.   franchise  
  b.   partnership  
  c.   corporation  
  d.   NAICS  
      
  9.This person often acts as the manager and operator of a business:  
  a.   independent store  
  b.   entrepreneur  
  c.   franchisee  
  d.   corporate employee  
      
  10.Which of the following would be classified in the Miscellaneous Store Retailer NAICS category?  
  a.   art gallery  
  b.   florist  
  c.   pet shop  
  d.   all of the above  

 

 
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