Question 1

The main factors behind higher food commodity costs include stronger global demand for oil.

Accepted Answer

A) True 
 B)False  False

Question 2

The average annual household expenditure for food away from home in 2008 was:

Accepted Answer

A)  $4,206 
B)  $2,676 
C)  $3,000 
D)  $1,500 
A)  $4,206 
B)  $2,676 
C)  $3,000 
D)  $1,500 B

Question 3

Successful forecasting is defined as predicting the consequences of a given decision or set of decisions over a given time.

Accepted Answer

A) True 
 B)False  True

Question 4

In the United States, the Food Service Industry directly supports approximately ______ million jobs.

Accepted Answer

A)  2 
B)  4 
C)  7 
D)  12 
A)  2 
B)  4 
C)  7 
D)  12

Question 5

Communication is the ongoing process of exchanging information between different departments and people both within and outside an organization.

Accepted Answer

A) True 
 B)False

Question 6

The term FTE refers to a measurement equal to:

Accepted Answer

A)  one staff person consistently working overtime 
B)  a group of staff persons working a full-time work schedule 
C)  one staff person working a full-time work schedule for one year 
D)  two or more staff persons working a full-time work schedule for one year 
A)  one staff person consistently working overtime 
B)  a group of staff persons working a full-time work schedule 
C)  one staff person working a full-time work schedule for one year 
D)  two or more staff persons working a full-time work schedule for one year

Question 7

What are the main factors behind higher food commodity costs in the United States?

Accepted Answer

A)  weather-related production problems 
B)  increased use of some food commodities, such as corn, for biofuel uses 
C)  stronger global demand for food 
D)  all answers are correct 
A)  weather-related production problems 
B)  increased use of some food commodities, such as corn, for biofuel uses 
C)  stronger global demand for food 
D)  all answers are correct

Question 8

Explain the meaning of cost.

Accepted Answer

Cost, also referred to as expenses, desc

Question 9

Revenue, a term often used interchangeably with income or sales, is money received by a business minus returns and discounts in a given period of time.

Accepted Answer

A) True 
 B)False

Question 10

Globally, travel and tourism is the world's largest industry.

Accepted Answer

A) True 
 B)False

Question 11

Assume there are 7,500 room nights. If 5,800 rooms are occupied during a period, what is the occupancy percentage?

Accepted Answer

The answer of Assume there are 7,500 room nights. If...

Question 12

If a hotel has 250 rooms, how many room nights are available in a thirty-day month?

Accepted Answer

The answer of If a hotel has 250 rooms, how...

Question 13

A high inventory turnover ratio-a figure calculated to show how quickly a company is using products-may indicate that:

Accepted Answer

A)  the unit is buying too much stock 
B)  the unit inventory is exposed to theft 
C)  the unit is not buying too much stock 
D)  the unit revenue is below forecast 
A)  the unit is buying too much stock 
B)  the unit inventory is exposed to theft 
C)  the unit is not buying too much stock 
D)  the unit revenue is below forecast

Question 14

What is a food and beverage forecast?

Accepted Answer

A food and beverage forecast i

Question 15

Define full-service restaurant.

Accepted Answer

The term full-service restaura

Question 16

Costs that are incurred to make a product, like a chicken entrée, are called production costs.

Accepted Answer

A) True 
 B)False

Question 17

When costs or expenses are greater than revenue, the company experiences profit.

Accepted Answer

A) True 
 B)False

Question 18

A key phrase in the food and beverage manager's vocabulary is cost-effective controls. Why?

Accepted Answer

Managers use cost-effective control alte

Question 19

What is a full-time equivalent?

Accepted Answer

The term FTE refers to a measu

Question 20

What is the biggest challenge and opportunity the food service industry faced in 2008?

Accepted Answer

A)  maintaining customer loyalty 
B)  employee retention 
C)  high utility-gas costs 
D)  high insurance 
A)  maintaining customer loyalty 
B)  employee retention 
C)  high utility-gas costs 
D)  high insurance

The main factors behind higher food commodity costs include stronger global demand for oil.

The average annual household expenditure for food away from home in 2008 was:

Successful forecasting is defined as predicting the consequences of a given decision or set of decisions over a given time.

In the United States, the Food Service Industry directly supports approximately ______ million jobs.

Communication is the ongoing process of exchanging information between different departments and people both within and outside an organization.

The term FTE refers to a measurement equal to:

What are the main factors behind higher food commodity costs in the United States?

Explain the meaning of cost.

Revenue, a term often used interchangeably with income or sales, is money received by a business minus returns and discounts in a given period of time.

Globally, travel and tourism is the world's largest industry.

Assume there are 7,500 room nights. If 5,800 rooms are occupied during a period, what is the occupancy percentage?

If a hotel has 250 rooms, how many room nights are available in a thirty-day month?

A high inventory turnover ratio-a figure calculated to show how quickly a company is using products-may indicate that:

What is a food and beverage forecast?

Define full-service restaurant.

Costs that are incurred to make a product, like a chicken entrée, are called production costs.

When costs or expenses are greater than revenue, the company experiences profit.

A key phrase in the food and beverage manager's vocabulary is cost-effective controls. Why?

What is a full-time equivalent?

What is the biggest challenge and opportunity the food service industry faced in 2008?

Menu Development

Introduction to Purchasing

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 1: Overview of the Industry and the Managers Role

The main factors behind higher food commodity costs include stronger global demand for oil.

The average annual household expenditure for food away from home in 2008 was:

Successful forecasting is defined as predicting the consequences of a given decision or set of decisions over a given time.

In the United States, the Food Service Industry directly supports approximately ______ million jobs.

Communication is the ongoing process of exchanging information between different departments and people both within and outside an organization.

The term FTE refers to a measurement equal to:

What are the main factors behind higher food commodity costs in the United States?

Explain the meaning of cost.

Revenue, a term often used interchangeably with income or sales, is money received by a business minus returns and discounts in a given period of time.

Globally, travel and tourism is the world's largest industry.

Assume there are 7,500 room nights. If 5,800 rooms are occupied during a period, what is the occupancy percentage?

If a hotel has 250 rooms, how many room nights are available in a thirty-day month?

A high inventory turnover ratio-a figure calculated to show how quickly a company is using products-may indicate that:

What is a food and beverage forecast?

Define full-service restaurant.

Costs that are incurred to make a product, like a chicken entrée, are called production costs.

When costs or expenses are greater than revenue, the company experiences profit.

A key phrase in the food and beverage manager's vocabulary is cost-effective controls. Why?

What is a full-time equivalent?

What is the biggest challenge and opportunity the food service industry faced in 2008?

Menu Development

Introduction to Purchasing

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