1	When (the dates) and how many times a year do you need to pay taxes as a food and beverage business?
2	Name one accounting software or software package you could use to manage finances within your company and what are its key features and functions.
3	In a restaurant, what is meant by average cheque or average customer spending?
4	What is the purpose of a Profit and Loss Statement and how do they measure business performance?
5	What is the name of the financial report required to report "Cash Flow" and what is the purpose of it"?
6	What is an asset?
7	What is a liability?
8	Explain the financial term 'Owner's Equity'.
9	What is achieved by completing a Bank Reconciliation?
10	Provide THREE (3) examples of Fixed Costs in a business
11	How do you know if a business is making a profit or not and if it is NOT making a profit, what actions could you take to return it to profitability?
12	Explain what The Chart of Accounts is and what are the 5 major types of accounts.
13	What transaction activities could you have within these frequencies?
Weekly:
Daily:
Monthly:
14	In a restaurant, what should be included as wastage?
15	What is meant by labour cost for a hospitality business?

Answer rating: 100% (QA)

Answer Tax Payment Frequency for Food and Beverage Business Taxes for a food and beverage business are typically paid quarterly with due dates varying depending on the tax jurisdiction However specifi... View the full answer