11 Puzzles are:

Menu items that have high profitability and high popularity

Menu items that have high profitability and low popularity

Menu items that have low profitability and low popularity

Menu items that have low profitability and high popularity

12 A favourable variance occurs when:

It leads to an increase in income

It leads to a change in relation to sales volume

It leads to a decrease in income

It leads to a decrease budgeted quantity

13 The make-or-buy decision is also known as:

The next-best forgone alternative

The change between alternatives

The performance decision

The outsourcing decision

14 The capital budget summarizes the company's plans for the quantity of inventory that needs to be purchased.

Select one:

True

False

15 What is the formula to determine occupancy rate?

Number of Rooms Occupancy Rate Days in the Period

Building Cost Number of Rooms $1,000

(Number of Rooms Occupied or Sold Number of Rooms Available) 100%

Number of Rooms Occupancy Rate x Building Cost

16 What is a point-of-sale (POS) system?

It records guest reservations, tracks room inventory, and check guests in and out

It tracks cash inflows from lenders or investors

It is used by restaurants to input orders, generate bills and track payments

It accepts or rejects a special job, such as a catering job

17 Compound interest is the effect of interest earning interest.

Select one:

True

False

18 What does the purchases budget forecast?

The average check and seat turnover

The quantity of inventory that needs to be purchased to fill the expected sales

The accounts receivable amount on the budgeted balance sheet

An estimated budget data as if there have been no previous activities

19 A favourable variance occurs when it leads to an increase in income.

Select one:

True

False

20 The "equipment selection decision" is:

An organization deciding which equipment to replace

An organization deciding which equipment to purchase

Identifying the net present value of the equipment

Evaluating the equipment's required rate of return