Question 1

The use of the Uniform System of Accounts for Restaurants (USAR) is mandatory when reporting the financial results of a food service operation.

Accepted Answer

A) True 
 B)False

Question 2

What is the effect on an operation if its manager is able to increase the number of guests served or increase the amount each guest buys?

Accepted Answer

A)  Revenue will decrease and expenses will decrease 
B)  Revenue will decrease and expenses will increase 
C)  Revenue will increase and expenses will decrease 
D)  Revenue will increase and expenses will increase 
A)  Revenue will decrease and expenses will decrease 
B)  Revenue will decrease and expenses will increase 
C)  Revenue will increase and expenses will decrease 
D)  Revenue will increase and expenses will increase

Question 3

What is the food and beverage cost percentage achieved by The Tampopo Noodle House?

Accepted Answer

A)  22.9% 
B)  27.5% 
C)  37.5% 
D)  42.9% 
A)  22.9% 
B)  27.5% 
C)  37.5% 
D)  42.9%

Question 4

What is an expense that would be included in an operation's cost of food?

Accepted Answer

A)  Linen 
B)  Coffee 
C)  Gas for a range 
D)  Refrigerator repair 
A)  Linen 
B)  Coffee 
C)  Gas for a range 
D)  Refrigerator repair

Question 5

Management's view of the proper amount of expense required to generate a given level of sales is referred to as

Accepted Answer

A)  total cost. 
B)  prime cost. 
C)  ideal expense. 
D)  cost of goods sold. 
A)  total cost. 
B)  prime cost. 
C)  ideal expense. 
D)  cost of goods sold.

Question 6

The three ways to write a percent are: common, fraction, and decimal.

Accepted Answer

A) True 
 B)False

Question 7

What is the formula managers used to calculate a foodservice operation's Total Expense Percentage?

Accepted Answer

A)  Labor Cost ÷ Revenue = Total Expense % 
B)  Total Expense ÷ Profit = Total Expense % 
C)  Total Expense ÷ Revenue = Total Expense % 
D)  Total Expense ÷ Other expenses = Total Expense % 
A)  Labor Cost ÷ Revenue = Total Expense % 
B)  Total Expense ÷ Profit = Total Expense % 
C)  Total Expense ÷ Revenue = Total Expense % 
D)  Total Expense ÷ Other expenses = Total Expense %

Question 8

In what cost category do managers record nonalcoholic beverage expenses?

Accepted Answer

A)  Revenue 
B)  Food cost 
C)  Beverage cost 
D)  Other expenses 
A)  Revenue 
B)  Food cost 
C)  Beverage cost 
D)  Other expenses

Question 9

What is the formula used to calculate a Food Cost Percentage?

Accepted Answer

A)  Profit ÷ Revenue = Food Cost % 
B)  Food Cost ÷ Food Sales = Food Cost % 
C)  Total Expense ÷ Revenue = Food Cost % 
D)  Labor Expense ÷ Food Sales = Food Cost % 
A)  Profit ÷ Revenue = Food Cost % 
B)  Food Cost ÷ Food Sales = Food Cost % 
C)  Total Expense ÷ Revenue = Food Cost % 
D)  Labor Expense ÷ Food Sales = Food Cost %

Question 10

What is the purpose of the Uniform System of Accounts for Restaurants (USAR)?

Accepted Answer

A)  To reduce expenses 
B)  To improve revenue 
C)  To increase operational profits 
D)  To report financial results clearly 
A)  To reduce expenses 
B)  To improve revenue 
C)  To increase operational profits 
D)  To report financial results clearly

Question 11

An operation's expenses are the

Accepted Answer

A)  number of guests it serves. 
B)  sales dollars generated by the business. 
C)  dollars that remain after all costs have been paid. 
D)  costs of the items required to operate the business. 
A)  number of guests it serves. 
B)  sales dollars generated by the business. 
C)  dollars that remain after all costs have been paid. 
D)  costs of the items required to operate the business.

Question 12

What is the name for a forecast or estimate of future operating revenue, expense and profit?

Accepted Answer

A)  P&L 
B)  Budget 
C)  Income statement 
D)  Expense category 
A)  P&L 
B)  Budget 
C)  Income statement 
D)  Expense category

Question 13

The budget shows the actual revenue, expense, and profit of an operation.

Accepted Answer

A) True 
 B)False

Question 14

When calculating a fraction form percentage, the "whole" is the numerator and the "part" is the denominator.

Accepted Answer

A) True 
 B)False

Question 15

A manager generated a food and beverage cost of $1,575 in one week, and achieved a 28% food and beverage cost percentage in that week. What is the amount of food and beverage revenue the manager achieved in the week?

Accepted Answer

A)  $5,080 
B)  $5,430 
C)  $5,625 
D)  $6,055 
A)  $5,080 
B)  $5,430 
C)  $5,625 
D)  $6,055

The use of the Uniform System of Accounts for Restaurants (USAR) is mandatory when reporting the financial results of a food service operation.

What is the effect on an operation if its manager is able to increase the number of guests served or increase the amount each guest buys?

What is the food and beverage cost percentage achieved by The Tampopo Noodle House?

What is an expense that would be included in an operation's cost of food?

Management's view of the proper amount of expense required to generate a given level of sales is referred to as

The three ways to write a percent are: common, fraction, and decimal.

What is the formula managers used to calculate a foodservice operation's Total Expense Percentage?

In what cost category do managers record nonalcoholic beverage expenses?

What is the formula used to calculate a Food Cost Percentage?

What is the purpose of the Uniform System of Accounts for Restaurants (USAR)?

An operation's expenses are the

What is the name for a forecast or estimate of future operating revenue, expense and profit?

The budget shows the actual revenue, expense, and profit of an operation.

When calculating a fraction form percentage, the "whole" is the numerator and the "part" is the denominator.

A manager generated a food and beverage cost of $1,575 in one week, and achieved a 28% food and beverage cost percentage in that week. What is the amount of food and beverage revenue the manager achieved in the week?

Creating Sales Forecasts

Purchasing and Receiving

Managing Inventory and Production

Monitoring Food and Beverage Product Costs

Managing Food and Beverage Pricing

Managing the Cost of Labor

Controlling Other Expenses

Analyzing Results Using the Income Statement

Planning for Profit

Maintaining and Improving the Revenue Control System

Filters

Exam 1: Managing Revenue and Expense

The use of the Uniform System of Accounts for Restaurants (USAR) is mandatory when reporting the financial results of a food service operation.

What is the effect on an operation if its manager is able to increase the number of guests served or increase the amount each guest buys?

What is the food and beverage cost percentage achieved by The Tampopo Noodle House?

What is an expense that would be included in an operation's cost of food?

Management's view of the proper amount of expense required to generate a given level of sales is referred to as

The three ways to write a percent are: common, fraction, and decimal.

What is the formula managers used to calculate a foodservice operation's Total Expense Percentage?

In what cost category do managers record nonalcoholic beverage expenses?

What is the formula used to calculate a Food Cost Percentage?

What is the purpose of the Uniform System of Accounts for Restaurants (USAR)?

An operation's expenses are the

What is the name for a forecast or estimate of future operating revenue, expense and profit?

The budget shows the actual revenue, expense, and profit of an operation.

When calculating a fraction form percentage, the "whole" is the numerator and the "part" is the denominator.

A manager generated a food and beverage cost of $1,575 in one week, and achieved a 28% food and beverage cost percentage in that week. What is the amount of food and beverage revenue the manager achieved in the week?

Creating Sales Forecasts

Purchasing and Receiving

Managing Inventory and Production

Monitoring Food and Beverage Product Costs

Managing Food and Beverage Pricing

Managing the Cost of Labor

Controlling Other Expenses

Analyzing Results Using the Income Statement

Planning for Profit

Maintaining and Improving the Revenue Control System

Filters