ProStart 2- Sales/Pricing/Menu

A compilation of sales and cost information for a specific period of time is presented in a(n):

• sales invoice
• profit-and-loss report
• operating budget

Use the ___________ method to minimize the value of the closing inventory.

• actual purchase price
• last in, first out (LIFO)
• latest purchase price

A vendor's document that lists such details as items purchased, date of order, purchaser, and sales price is called a(n):

• purchase order
• invoice
• receiving sheet

Which menu pricing method requires that an operation know the portion costs for each item sold?

• average check
• food cost percentage
• contribution margin

The document that lists all menu items that are going to be prepared for a given date is called a:

• purchase order
• production sheet
• master schedule

______________ is inspecting, accepting, and, in some cases, rejecting deliveries of goods and services.

• storing
• pilfering
• receiving

What is a legally binding written document that details exactly what the buyer is ordering from the vendor called?

• purchase order
• inventory sheet
• requisition form

If a manager takes money or other goods from a person in exchange for purchasing from a specific vendor, this act is called:

• kickback
• payoff
• bribe

The ideal amount of inventory items that  an operation should have at all times is called:

• par stock
• par value
• perpetual inventory

The channel of distribution that includes the farmers and ranchers who raise produce and livestock is called the:

• intermediary source
• secondary source
• primary source