Fiscal Key Terms (Culinary 3/4)

Fiscal Key Terms (Culinary 3/4)

Assessment

Flashcard

Business

Vocational training

Hard

Created by

Jamie Day

FREE Resource

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25 questions

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1.

FLASHCARD QUESTION

Front

Accounts receivable

Back

Money owed to a company by its debtors.

2.

FLASHCARD QUESTION

Front

Accounts payable

Back

Money owed by a company to its creditors.

3.

FLASHCARD QUESTION

Front

Asset

Back

An economic resource that is expected to provide future benefit. ex. property, cars, investments

4.

FLASHCARD QUESTION

Front

Balance sheet

Back

A financial statement that reports a company's assets, liabilities, and shareholders' equity at a specific point in time.

5.

FLASHCARD QUESTION

Front

Beverage cost percentage

Back

A metric used to measure the cost of beverages sold as a percentage of total sales. Average 20%-30%

6.

FLASHCARD QUESTION

Front

Cash flow statement

Back

A financial statement that shows the inflow and outflow of cash within a company.

7.

FLASHCARD QUESTION

Front

Controllable Expense

Back

Costs that can be influenced or controlled by management. ex. rent

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