Controllable costs - Study guides, Class notes & Summaries

What is the industry term used to describe the sum of prices paid by a business's customers? - Answer-total revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Answer-costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Answer-profit=sales-costs What is the name for the net value achieved by both parties in a business transaction? - Answerprofit What element is not present in a barter economy? - Answer-...

AIS Exam 3 2024 Questions & Answers 100% CORRECT XBRL element - ANSWERSan individual financial statement item responsibility accounting - ANSWERSevaluating performance based on controllable costs flexible budget - ANSWERSevaluating performance by computing standards in light of actual activity levels journal voucher file - ANSWERSthe set of journal entries that updated the general ledger XBRL anatomy - ANSWERSa set of files that defines XBRL elements and specifies the relationsh...

Cost Control Food Service Exam 1 Questions & Answers 2024/2025 $11,000 - ANSWERSA restaurant budgeted for sales of $100,000 and total costs of 89%. How much profit would this restaurant earn? Cost structure - ANSWERSThe proportion or percentage of expense items to sales is known as? Profit of $1,000 - ANSWERSA restaurant has $90,000 in sales, $31,000 in food costs, $34,000 in labor costs, and $24,000 in other costs. It has experienced a? Daily - ANSWERSControlling costs is somethin...

Revenue Management Final Exam Question & Answers 2024. what is the industry term used to describe the sum of prices paid by a business's customers? -daily receipts -profit -profits less expenses -total revenues -total revenues historically, what concept have hospitality managers chiefly used to calculate their selling prices? -income -revenue -costs -profits -costs what is an algebraic equivalent of the formula: sales=costs+profit? -profit=sales-costs -costs=sales+profits -costs=profit-sales -...

Marketing - An organizational function and set of process for creating, capturing, communicating, and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stakeholders Marketing Plan - A written document composed of an analysis of the current marketing situation, opportunities, and threats for the firm, marketing objectives and strategy specified in terms of four P's, action programs, and projected or pro forma income (and other...

A cell reference that remains constant when a formula is pasted into a new cell - Answer-Absolute Cell Reference An accounting record in which the results of transactions accumulated; shows increases, decreases, and a balance. - Answer-Account A system for providing quantitative, financial information about economic entities that is useful for making sound economic decisions. Accounting provides the means of recording and communicating business activities and the results of those activitie...

What is the industry term used to describe the sum of prices paid by a business's customers?: total revenues Historically, what concept have hospitality managers chiefly used to calcu- late their selling prices?: costs What is an algebraic equivalent of the formula: Sales = Costs + Profit?: prof- it=sales-costs What is the name for the net value achieved by both parties in a business transaction?: profit What element is not present in a barter economy?: money What is the formula used to ca...

CAPM Test Bank with 100% Correct Solutions. 5 process groups ️ Initiating Planning Executing Monitoring and Controlling Closing Ten knowledge areas ️ Integration Scope Time Cost Quality HR Communications Risk Procurement Stakeholder management total float formula ️ total float = late finish - early finish normal distribution ️ bell curve - symmetrical distribution - 50% chance of falling below the mean and 50% chance of falling above the mean (1sigma=68.27%. 2sigma = ...

Test Bank For Entrepreneurship: The Practice and Mindset 1st Edition by Heidi M. Neck Christopher P. Neck ,Emma L. Murray Chapter 1: Entrepreneurship: A Global Social MovementTest Bank Multiple Choice 1. The authors define entrepreneurship as . a. a discipline that seeks to understand how opportunities are discovered, created, and exploited, by whom, and with what consequences b. starting a small business by finding investors and launching a product c. developing a new market by crea...

Revenue Management Final Q&A 100% All Verified what is the industry term used to describe the sum of prices paid by a business's customers? -daily receipts -profit -profits less expenses -total revenues - ANS--total revenues historically, what concept have hospitality managers chiefly used to calculate their selling prices? -income -revenue -costs -profits - ANS--costs what is an algebraic equivalent of the formula: sales=costs+profit? -profit=sales-costs -costs=sales+profits ...