Understanding Financial Plans

Understanding Financial Plans

University

10 Qs

quiz-placeholder

Similar activities

HACCP

HACCP

3rd Grade - University

15 Qs

Human Resources Management Midterm Quiz 3

Human Resources Management Midterm Quiz 3

University

7 Qs

Mineral Basics Quiz Competition (General & Major)

Mineral Basics Quiz Competition (General & Major)

University

10 Qs

Explore Cultural Heritage Sites

Explore Cultural Heritage Sites

10th Grade - University

10 Qs

Legislation and Regulations in Hospitality

Legislation and Regulations in Hospitality

University

10 Qs

Hotel Check-Out Procedures Quiz

Hotel Check-Out Procedures Quiz

University

14 Qs

HBMS 1

HBMS 1

University

15 Qs

Kinds of Pastry

Kinds of Pastry

11th Grade - University

15 Qs

Understanding Financial Plans

Understanding Financial Plans

Assessment

Quiz

Hospitality and Catering

University

Practice Problem

Hard

Created by

Alyanna Navarro

FREE Resource

AI

Enhance your content in a minute

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 5 pts

Why is a financial plan summary important?

It helps make better financial decisions.

It is not necessary for stakeholders.

It complicates the financial picture.

2.

MULTIPLE CHOICE QUESTION

10 sec • 5 pts

What are assumptions in a financial plan?

Guaranteed facts about the future.

Educated guesses or expectations.

Random guesses without basis.

3.

MULTIPLE CHOICE QUESTION

10 sec • 5 pts

What is an Income Statement?

A report showing how much money a business earned.

A document for tax purposes only.

A summary of employee salaries.

4.

MULTIPLE CHOICE QUESTION

10 sec • 5 pts

What does the term 'Net Income' refer to?

Final earnings after all expenses are paid.

Total sales revenue before expenses.

The cost of goods sold.

5.

MULTIPLE CHOICE QUESTION

10 sec • 5 pts

What is the formula for calculating Gross Profit?

Sales Revenue - COGS

COGS - Sales Revenue

Sales Revenue + COGS

6.

MULTIPLE CHOICE QUESTION

10 sec • 5 pts

What is the formula for calculating Earnings Before Taxes (EBT)?

EBIT - Interest

Net Income - Taxes

Gross Profit - SG&A

7.

MULTIPLE CHOICE QUESTION

10 sec • 5 pts

What is the significance of a contingency fund?

To cover unexpected costs.

To increase profits.

To reduce sales.

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?