Internal Controls / Ratios

Internal Controls / Ratios

Professional Development

7 Qs

quiz-placeholder

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Internal Controls / Ratios

Internal Controls / Ratios

Assessment

Quiz

Fun

Professional Development

Practice Problem

Hard

Created by

Nicole Chuchmach

Used 2+ times

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7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Food cost percentage is calculated by dividing food sales over food costs

True

False

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A food cost percentage of 45% is favourable

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Current Ratio

Liquidity Ratio

Solvency Ratio

Activity Ratio

Profitability Ratio

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A current ratio of 2:1 means that a company has $2 of current assets to $1 of current liabilities

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A company that is solvent means that:

Liabilities exceed assets

Gross Profit is negative

Assets exceed Liabilities

None of the answers are correct

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

If a business is financed through debt......

Financing is from the bank

Financing is from investors

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A debt-to-equity ratio of 2 or higher is considered favorable

True

False