Overview
Q5:
In the hospitality industry, cash need are typically at their highest...
A. | when sales are at their lowest. | |
B. | when sales are at their highest. | |
C. | at the beginning of the an accounting period. | |
D. | at the end of an accounting period. | |
Q6:
A restaurant manager served 70,000 covers last month and achieved a check average of $20.00. The manager's food cost was 25%. For next month, the manager will raise prices by 5% and expects the covers served to be 68,00. The manager expects a 2% increase in the cost of food products they will buy next month. What dollar amount should this manager forecast for Cost of Sales: Food for next month?
A. | 25.3% | |
B. | 22.3% | |
C. | 24.3% | |
D. | 23.3% |
Q7:
A corporation finds itself short on cash reserves. What is LEAST likely to be a realistic method for immediately increasing this corporation's cash reserves?
A. | Borrow funds | |
B. | Increase sales | |
C. | Issue additional stock | |
D. | Sell fixed assets |
Q8:
An operation's aging report is used to monitor its...
A. | statement of cash flows (SCF). | |
B. | accounts payable (AP). | |
C. | accounts receivable (AR). | |
D. | credit applications (CA). |