Question 1

Explain the problems facing restaurants when it comes to deciding how much inventory to stock.

Accepted Answer

The restaurant must balance the need for

Question 2

Net income is what is left after only expenses have been subtracted.

Accepted Answer

A) True 
 B)False

Question 3

The discounted or internal rate of return considers the time value of money and determines the rate of return that would result when the present value of the return equals the____________.

Accepted Answer

The answer of The discounted or internal rate of return...

Question 4

Sufficient cash must be available to meet current expenses. What should be done with remaining cash?

Accepted Answer

A)  It should be invested in a mutual fund to make money 
B)  Stored in a safe in the back of the restaurant 
C)  It should be in a bank, to generate interest 
A)  It should be invested in a mutual fund to make money 
B)  Stored in a safe in the back of the restaurant 
C)  It should be in a bank, to generate interest

Question 5

Activity ratios show how well employees are using the assets of the operation in generating income.

Accepted Answer

A) True 
 B)False

Question 6

Although it is fairly easy to estimate future costs, it is much more difficult to calculate changes in sales brought about by____________ .

Accepted Answer

capital ex

Question 7

How is the cost of food sales calculated? Beverage sales?

Accepted Answer

Inventory of food at beginning of period

Question 8

Operating profit typically increases as sales volume does what?

Accepted Answer

A)  Maintains a good ratio 
B)  Decreases 
C)  Increases 
A)  Maintains a good ratio 
B)  Decreases 
C)  Increases

Question 9

The relative proportion of food to beverage revenue is important because the cost of sales for food is less than the cost of sales for beverages.

Accepted Answer

A) True 
 B)False

Question 10

Variable expenses are those that only vary proportionately with sales.

Accepted Answer

A) True 
 B)False

Question 11

Liquidity ratios determine the extent to which a business can meet short- term obligations as and when they become due.

Accepted Answer

A) True 
 B)False

Question 12

Break- even charts are useful at times. What are some of their weaknesses?

Accepted Answer

Useful as they are, break- even charts c

Question 13

Solvency ratios measure what ability?

Accepted Answer

A)  Repay debts 
B)  Make a profit 
C)  Maintain a clean environment 
A)  Repay debts 
B)  Make a profit 
C)  Maintain a clean environment

Question 14

____________is the profit after taking the cost of sales-food and beverage-from total revenue.

Accepted Answer

The answer of ____________is the profit after taking the cost...

Question 15

How much is "enough" profit?

Accepted Answer

A)  Enough to keep the owners happy with their investment 
B)  $50,000 per year 
C)  10 percent of sales 
A)  Enough to keep the owners happy with their investment 
B)  $50,000 per year 
C)  10 percent of sales

Question 16

List and explain the three basic steps of systematically analyzing a statement of income.

Accepted Answer

These are the steps:
a. Compare ratios a

Question 17

Current liabilities are those payable within the month.

Accepted Answer

A) True 
 B)False

Question 18

What is the difference between current assets and current liabilities?

Accepted Answer

A)  Invested capital 
B)  Profits 
C)  Working capital 
A)  Invested capital 
B)  Profits 
C)  Working capital

Explain the problems facing restaurants when it comes to deciding how much inventory to stock.

Net income is what is left after only expenses have been subtracted.

The discounted or internal rate of return considers the time value of money and determines the rate of return that would result when the present value of the return equals the____________.

Sufficient cash must be available to meet current expenses. What should be done with remaining cash?

Activity ratios show how well employees are using the assets of the operation in generating income.

Although it is fairly easy to estimate future costs, it is much more difficult to calculate changes in sales brought about by____________ .

How is the cost of food sales calculated? Beverage sales?

Operating profit typically increases as sales volume does what?

The relative proportion of food to beverage revenue is important because the cost of sales for food is less than the cost of sales for beverages.

Variable expenses are those that only vary proportionately with sales.

Liquidity ratios determine the extent to which a business can meet short- term obligations as and when they become due.

Break- even charts are useful at times. What are some of their weaknesses?

Solvency ratios measure what ability?

____________is the profit after taking the cost of sales-food and beverage-from total revenue.

How much is "enough" profit?

List and explain the three basic steps of systematically analyzing a statement of income.

Current liabilities are those payable within the month.

What is the difference between current assets and current liabilities?

Introduction

Understanding the Customer

Developing a Marketing Plan

Promoting the Operation

Pricing and Designing the Menu

Delivering Quality Service

The Physical Facility

Food and Beverage: From Supplier to Customer

Kitchen Equipment and Interiors: Selection, Maintenance and Energy Management

Sanitation and Food Safety

Employee Selection

Training and Development

Motivating the Employee

Restaurant Manager 2010

Filters

Exam 11: Controlling Costs

Explain the problems facing restaurants when it comes to deciding how much inventory to stock.

Net income is what is left after only expenses have been subtracted.

The discounted or internal rate of return considers the time value of money and determines the rate of return that would result when the present value of the return equals the____________.

Sufficient cash must be available to meet current expenses. What should be done with remaining cash?

Activity ratios show how well employees are using the assets of the operation in generating income.

Although it is fairly easy to estimate future costs, it is much more difficult to calculate changes in sales brought about by____________ .

How is the cost of food sales calculated? Beverage sales?

Operating profit typically increases as sales volume does what?

The relative proportion of food to beverage revenue is important because the cost of sales for food is less than the cost of sales for beverages.

Variable expenses are those that only vary proportionately with sales.

Liquidity ratios determine the extent to which a business can meet short- term obligations as and when they become due.

Break- even charts are useful at times. What are some of their weaknesses?

Solvency ratios measure what ability?

____________is the profit after taking the cost of sales-food and beverage-from total revenue.

How much is "enough" profit?

List and explain the three basic steps of systematically analyzing a statement of income.

Current liabilities are those payable within the month.

What is the difference between current assets and current liabilities?

Introduction

Understanding the Customer

Developing a Marketing Plan

Promoting the Operation

Pricing and Designing the Menu

Delivering Quality Service

The Physical Facility

Food and Beverage: From Supplier to Customer

Kitchen Equipment and Interiors: Selection, Maintenance and Energy Management

Sanitation and Food Safety

Employee Selection

Training and Development

Motivating the Employee

Restaurant Manager 2010

Filters