Question 1

What is "perpetual inventory"?

Accepted Answer

A system of accounting for inventory changes, in which beginning and ending inventories are noted along with any sales or purchases

Question 2

In general, a credit memo is used to record a credit due from a purchaser when the merchandise received does not conform to what was ordered.

Accepted Answer

A) True 
 B)False  False

Question 3

In deflationary times, you may wish to use a LIFO system to value your ending inventory. In a LIFO storeroom, the most recently purchased products are used and charged, thus reducing current taxes by eliminating inventory profits.

Accepted Answer

A) True 
 B)False  False

Question 4

A credit memo is simply a list of all items received. This documentation is critical for accrual and end-of-month cut-off totaling to ensure accuracy of the accrual.

Accepted Answer

A) True 
 B)False

Question 5

List five functions of a storeroom.

Accepted Answer

• direct issue and storeroom i

Question 6

What is "FIFO"?

Accepted Answer

First in, first out (FIFO) is a method o

Question 7

What are the objectives of auditing the purchasing department?

Accepted Answer

• Ensure that all price quotations are i

Question 8

Define "dead stock."

Accepted Answer

Stock without signif

Question 9

When a vendor consistently delivers products early or late, the clerk should not be too concerned as long as the products are received.

Accepted Answer

A) True 
 B)False

Question 10

What is the "meat tag" system?

Accepted Answer

When meats are stored centrally and are

Question 11

At times a delivery will arrive without an invoice. What document should be prepared by the storeroom clerk?

Accepted Answer

A)  credit memo 
B)  memo invoice 
C)  delivery memo 
D)  no need to do anything 
A)  credit memo 
B)  memo invoice 
C)  delivery memo 
D)  no need to do anything

Question 12

Who is responsible for auditing receiving procedures?

Accepted Answer

A)  the vendor 
B)  the purchaser 
C)  the trucker driver 
D)  none of these answers is correct 
A)  the vendor 
B)  the purchaser 
C)  the trucker driver 
D)  none of these answers is correct

Question 13

Valuable inventory needs to be protected from theft, spoilage, and waste. The inventory system usually used is called:

Accepted Answer

A)  perpetual inventory 
B)  expensive inventory 
C)  high-valued inventory 
D)  none of these answers is correct 
A)  perpetual inventory 
B)  expensive inventory 
C)  high-valued inventory 
D)  none of these answers is correct

Question 14

The receiving department should keep a record of the weight of various empty containers in order to determine the net weight of perishables in these containers. This is called:

Accepted Answer

A)  tare weight 
B)  container weight 
C)  water weight 
D)  waste weight 
A)  tare weight 
B)  container weight 
C)  water weight 
D)  waste weight

Question 15

The term direct issue means that a purchase is charged directly to a receiving outlet, such as the kitchen.

Accepted Answer

A) True 
 B)False

Question 16

Storeroom personnel are responsible for inspecting sanitation in all storage areas and bringing deficiencies to the attention of the purchasing manager.

Accepted Answer

A) True 
 B)False

Question 17

What needs to be prepared and signed when requesting food items from the storeroom?

Accepted Answer

A)  contract 
B)  storeroom requisition form 
C)  manager's note 
D)  nothing 
A)  contract 
B)  storeroom requisition form 
C)  manager's note 
D)  nothing

Question 18

When meats are stored centrally and are not issued directly to outlets, storeroom personnel will need to establish what system to identify and price all meat issued?

Accepted Answer

A)  a meat tag 
B)  a price tag 
C)  supplier tag 
D)  none of these answers is correct 
A)  a meat tag 
B)  a price tag 
C)  supplier tag 
D)  none of these answers is correct

Question 19

Which description is not true?

Accepted Answer

A)  Storeroom access and security must be more consistently monitored, ensuring that storeroom operation hours comply with management standards in order to minimize off-hours entry, as this is a common breach of security 
B)  Storeroom clerk should maintain strict control of storeroom keys to ensure security 
C)  Storeroom clerk should inspect sanitation in all storage areas and bring deficiencies to the attention of the purchasing manager 
D)  All of the above are true 
A)  Storeroom access and security must be more consistently monitored, ensuring that storeroom operation hours comply with management standards in order to minimize off-hours entry, as this is a common breach of security 
B)  Storeroom clerk should maintain strict control of storeroom keys to ensure security 
C)  Storeroom clerk should inspect sanitation in all storage areas and bring deficiencies to the attention of the purchasing manager 
D)  All of the above are true

Question 20

What does a storeroom person need to do when receiving products?

Accepted Answer

The clerk should verify the supplier, qu

What is "perpetual inventory"?

In general, a credit memo is used to record a credit due from a purchaser when the merchandise received does not conform to what was ordered.

In deflationary times, you may wish to use a LIFO system to value your ending inventory. In a LIFO storeroom, the most recently purchased products are used and charged, thus reducing current taxes by eliminating inventory profits.

A credit memo is simply a list of all items received. This documentation is critical for accrual and end-of-month cut-off totaling to ensure accuracy of the accrual.

List five functions of a storeroom.

What is "FIFO"?

What are the objectives of auditing the purchasing department?

Define "dead stock."

When a vendor consistently delivers products early or late, the clerk should not be too concerned as long as the products are received.

What is the "meat tag" system?

At times a delivery will arrive without an invoice. What document should be prepared by the storeroom clerk?

Who is responsible for auditing receiving procedures?

Valuable inventory needs to be protected from theft, spoilage, and waste. The inventory system usually used is called:

The receiving department should keep a record of the weight of various empty containers in order to determine the net weight of perishables in these containers. This is called:

The term direct issue means that a purchase is charged directly to a receiving outlet, such as the kitchen.

Storeroom personnel are responsible for inspecting sanitation in all storage areas and bringing deficiencies to the attention of the purchasing manager.

What needs to be prepared and signed when requesting food items from the storeroom?

When meats are stored centrally and are not issued directly to outlets, storeroom personnel will need to establish what system to identify and price all meat issued?

Which description is not true?

What does a storeroom person need to do when receiving products?

Overview of the Industry and the Managers Role

Menu Development

Introduction to Purchasing

Purchase Specifications

Price and the Vendor

Introduction to Beverages

Beverage Procedures, From Start to Finish

Beverage Controls and Service Procedures

Planning for Food Profit and Controls

Monthly Physical Inventory and Monthly Food Cost Calculations

Revenue and Cash Handling Control

Menu Analysis and Planning for Sales

Staff Planning and Labor Cost Control

Analyzing Cost-Volume-Profit Cvp Relationships and Marginal Contribution Break-Even MCB

Budgeting and Manager ROI

Filters

Exam 6: Purchasing Controls

What is "perpetual inventory"?

In general, a credit memo is used to record a credit due from a purchaser when the merchandise received does not conform to what was ordered.

In deflationary times, you may wish to use a LIFO system to value your ending inventory. In a LIFO storeroom, the most recently purchased products are used and charged, thus reducing current taxes by eliminating inventory profits.

A credit memo is simply a list of all items received. This documentation is critical for accrual and end-of-month cut-off totaling to ensure accuracy of the accrual.

List five functions of a storeroom.

What is "FIFO"?

What are the objectives of auditing the purchasing department?

Define "dead stock."

When a vendor consistently delivers products early or late, the clerk should not be too concerned as long as the products are received.

What is the "meat tag" system?

At times a delivery will arrive without an invoice. What document should be prepared by the storeroom clerk?

Who is responsible for auditing receiving procedures?

Valuable inventory needs to be protected from theft, spoilage, and waste. The inventory system usually used is called:

The receiving department should keep a record of the weight of various empty containers in order to determine the net weight of perishables in these containers. This is called:

The term direct issue means that a purchase is charged directly to a receiving outlet, such as the kitchen.

Storeroom personnel are responsible for inspecting sanitation in all storage areas and bringing deficiencies to the attention of the purchasing manager.

What needs to be prepared and signed when requesting food items from the storeroom?

When meats are stored centrally and are not issued directly to outlets, storeroom personnel will need to establish what system to identify and price all meat issued?

Which description is not true?

What does a storeroom person need to do when receiving products?

Overview of the Industry and the Managers Role

Menu Development

Introduction to Purchasing

Purchase Specifications

Price and the Vendor

Introduction to Beverages

Beverage Procedures, From Start to Finish

Beverage Controls and Service Procedures

Planning for Food Profit and Controls

Monthly Physical Inventory and Monthly Food Cost Calculations

Revenue and Cash Handling Control

Menu Analysis and Planning for Sales

Staff Planning and Labor Cost Control

Analyzing Cost-Volume-Profit Cvp Relationships and Marginal Contribution Break-Even MCB

Budgeting and Manager ROI

Filters