QUESTION 1 Which of the following is not a true statement about ratios? They provide answers in and of themselves and are predictive. Ratios should be used with other elements of financial analysis. They are based on historical costs. There are no "rules of thumb" that apply to the interpretation of ratios. QUESTION 2 The only difference between the acid test (quick ratio) and the current ratio is that the acid test ratio does not include accounts receivable. True False QUESTION 3 Given the information in the table, what is the hotel's food cost percentage if food revenue is 20% of total hotel revenue? Month December Rooms in Hotel 50 Paid Rooms Occupied Rooms Total Hotel Revenue 1,005 1,095 $136,900 $33,230 $12,320 Total Hotel Payroll Food Cost 18.5% O 55.5% 9.5% 45.0% QUESTION 4 Romeo, Juliet, Tybalt, and Mercutio all own their own Italian restaurants. Romeo's restaurant reported food revenue of $240,000 and a cost of food sold as $95,000. Juliet's restaurant reported food revenue of $300,000 and a cost of food sold as $120,000. Tybalt's restaurant reported food revenue of $270,000 and a cost of food sold as $90,000. Mercutio's restaurant reported food revenue of $360,000 and a cost of food sold as $90,000. Whose restaurant had the lowest food cost percentage? Romeo O Juliet O Tybalt Mercutio QUESTION 5 Given the information in the table, what would be the REVPAR if total room revenue were 75% of total hotel revenue? Month Rooms in Hotel Paid Rooms Occupled Rooms Paid Guests Total Hotel Revenue November 300 5,497 5,697 5,948 $2,157,893 $294.42 $179.82 $284.08 $239.76