Question 1

What is the meaning of inventory turnover?

Accepted Answer

Inventory turnover means the n

Question 2

Why must a contract be lawful?

Accepted Answer

The objective of a contract mu

Question 3

The purchasing process must never extend into the kitchen: monitoring how products are used and served will create a hostile relationship with the chef and cooks.

Accepted Answer

A) True 
 B)False

Question 4

One of the primary objectives of the purchasing department is to procure the best or highest-quality product available.

Accepted Answer

A) True 
 B)False

Question 5

What does purchase price include for the purchaser?

Accepted Answer

The cost of an item is not jus

Question 6

Which of the following is not one of the four elements of a binding contract?

Accepted Answer

A)  Capable parties 
B)  Mutual assent 
C)  Lawful objective 
D)  Fair and equitable exchange 
A)  Capable parties 
B)  Mutual assent 
C)  Lawful objective 
D)  Fair and equitable exchange

Question 7

What are the most important standards that a purchasing manager should maintain when working with vendors?

Accepted Answer

A)  All payments should be made to vendors within fourteen days of receipt of the items 
B)  All dealings should be standardized, transparent, and ethical 
C)  All deals should be signed off on by the company's owner 
D)  Any special bonuses like free items should go to the company's owner 
A)  All payments should be made to vendors within fourteen days of receipt of the items 
B)  All dealings should be standardized, transparent, and ethical 
C)  All deals should be signed off on by the company's owner 
D)  Any special bonuses like free items should go to the company's owner

Question 8

What is a purchase order?

Accepted Answer

A purchase order is a document

Question 9

Which factors are most important for determining how you will write your purchase specifications?

Accepted Answer

A)  Best prices available 
B)  Quality of the goods to be purchased 
C)  The company's image, menu, prices, and clientele 
D)  Finding the most unique items that are still reasonably priced 
A)  Best prices available 
B)  Quality of the goods to be purchased 
C)  The company's image, menu, prices, and clientele 
D)  Finding the most unique items that are still reasonably priced

Question 10

The ultimate purpose of requesting bids is to compare vendors' products, profiles, and suitability.

Accepted Answer

A) True 
 B)False

What is the meaning of inventory turnover?

Why must a contract be lawful?

The purchasing process must never extend into the kitchen: monitoring how products are used and served will create a hostile relationship with the chef and cooks.

One of the primary objectives of the purchasing department is to procure the best or highest-quality product available.

What does purchase price include for the purchaser?

Which of the following is not one of the four elements of a binding contract?

What are the most important standards that a purchasing manager should maintain when working with vendors?

What is a purchase order?

Which factors are most important for determining how you will write your purchase specifications?

The ultimate purpose of requesting bids is to compare vendors' products, profiles, and suitability.

Overview of the Industry and the Managers Role

Menu Development

Purchase Specifications

Price and the Vendor

Purchasing Controls

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 3: Introduction to Purchasing

What is the meaning of inventory turnover?

Why must a contract be lawful?

The purchasing process must never extend into the kitchen: monitoring how products are used and served will create a hostile relationship with the chef and cooks.

One of the primary objectives of the purchasing department is to procure the best or highest-quality product available.

What does purchase price include for the purchaser?

Which of the following is not one of the four elements of a binding contract?

What are the most important standards that a purchasing manager should maintain when working with vendors?

What is a purchase order?

Which factors are most important for determining how you will write your purchase specifications?

The ultimate purpose of requesting bids is to compare vendors' products, profiles, and suitability.

Overview of the Industry and the Managers Role

Menu Development

Purchase Specifications

Price and the Vendor

Purchasing Controls

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