Midterm Exam

Topics: Costs, Management accounting, Cost Pages: 4 (969 words) Published: February 3, 2013
Bayombong, Nueva Vizcaya


Name: ________________________________Class Schedule:____________Score: ______

TEST I. MULTIPLE CHOICES: Select the best answer. Shade the circle that correspond the letter of your answer. (Management & Culture)
1. Which of the following events has the great advantage to the trends of restaurant sales?
a. Valentine’s Dayb. Stormy daysc. Easter Fridayd. Holy Friday
2. Total required for the ordering period over number of days lead time.
a. average daily usageb. lead time requirementc. lead time usage d. all of the above
3. Safety stock may range from__________.
a. 5 – 10 %b. 5 – 20 %c. 10 – 15%d. 15 – 20 %
4. This is calculated as stock required less on hand
a. maximum par stockb. minimum par stockc. order quantityd. stock requirements
5. This is added to the required stock to give allowance for the unexpected guest to dine in a restaurant.
a. minimum parb. maximum parc. par stockd. safety stock
6. These are expired, consumed and or utilized.
a. costsb. cost controlc. controllingd. expenses
7. Concerned with the measurement of current performance versus targets.
a. costsb. cost controlc. controllingd. expenses
8. It is an economic sacrifice measured by monetary value of an exchange transaction.
a. costsb. cost controlc. controllingd. expenses
9. The process through which the actual costs are made to conform to the standards or expected costs for profit.
a. costsb. cost controlc. controllingd. expenses
10. It is a menu that is fixed for a certain period.
a. cycle menub. daily menuc. fixed menud. set menu
11. This is a summary of all transactions of the books of accounts for the current period added to the balances from the previous months.
a. cash receipts bookb. purchases bookc. sales bookd. trial balance
12. This is a summary of all sales generated during...
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