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).

Answer rating: 100% (QA)

Answer 5 Correct Option B Explanation The cash requirement is highest when the sales are ... View the full answer