Question 1 1 pts Which of the following are elements of revenue? food and beverage volume and price profits and cash flow advertising and profits Question 2 1 pts Ignoring price elasticity, which of the following is the best contributor to larger profits? increase in menu prices increase in customers increase in advertising inelastic demand Question 3 1 pts Which of the following can be used to forecast sales? O statistical models O CVP O moving average method O All of the above Question 4 1 pts Which of the following is the correct statistical model to forecast room sales? O Rooms x Occupancy x Days Open Rooms x Average Room Rate x Days Open Rooms x Occupancy x Average Room Rate Rooms x Occupancy Percentage x Average Room Rate x Days Open Question 5 1 pts If food sales average $50,000 and liquor sales average $10,000, what relationship can be concluded? O There is no relationship between food and beverage sales O Food sales are more than liquor sales O Liquor sales average 20% of food sales O Liquor prices should be increased. C Question 6 1 pts Which of the following can be used to calculate an average room rate if there is no actual sales data available? O Hubbart formula O weighted average method O Forecasted Rooms Sales Dollars/Forecasted Rooms Sold O All of the above Question 7 1 pts Which of the following is called a bottom-up approach to pricing? O statistical models O Hubbart formula O weighted average method O All of the above Question 8 1 pts What is the definition of contribution margin? O the portion of revenue that contributes to fixed costs and/or profit O the amount of income before income taxes (IBIT) O the amount of income after income taxes O the amount necessary to cover variable costs Question 9 1 pts What is the definition of sales mix? food and beverage and other items sold sales from all departments the proportion of each revenue center's sales to total sales sales shared by two or more departments Question 10 1 pts Which of the following is the CVP formula to forecast sales dollars? (Fixed Costs+Objectives)/(100% - VC % (100%- VC% ) / (Fixed Costs+Objectives) (Fixed Costs+Objectives) /CM% a and c