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WorksheetsHOTEL Mock Exam Questions
Total questions: 50
Worksheet time: 12hrs 16mins
What is the opening stock figure in the annual Trading, Profit and Loss Account?
Equal to the sales figure
The value of stock on the first day of the 12 month period in question
The value of the stock on the last day of the 12 month period
Always the same as the cost of sales
Which of the following are NOT examples of 'expenses' found within the Profit and Loss account?
Business rates, Advertising Costs, Rent
Electricity Charges, Motor Vehicle, Professional Charges
Premises, Motor Vehicle Expenses, Fixtures and Fittings
Drawings, Long-term Loan, Mortgage
'Expenses' found within the Profit and Loss Account can also be referred to as:
Current Assets and Cost of Sales
Purchases and Overheads
Current Liabilities and Working Capital
Running Costs and Overheads
Which of the following is NOT found within the Trading Profit and Loss Account?
Opening Stock
Gross Profit
Mortgage
Marketing costs
Which of the following items from the Profit and Loss Account is also found within the Balance Sheet?
Opening Stock
Net Profit
Sales
Gross Profit
The term 'Sales' may also be referred to as:
Profit, Cost of Sales, Income
Gross profit, Income, Stock
Sundry Expenses, Revenue, Purchases
Revenue, Income, Turnover
What was the value of the Opening Stock for Hotel ABC as of 31st December 2013?
£31,000
£30,100
£25,000
£14,500
As of 31st December 2013, what was the amount recorded under Salaries & Wages in the trial balance for Hotel ABC?
£138,550
£100,000
£68,000
£53,000
What was the total of both debit and credit columns in the trial balance for Hotel ABC at the end of 2013?
£530,500
£1,061,000
£350,000
£60,000
What is the Cost of Sales figure for Hotel ABC?
£100 900
£100 000
£131 000
£350 000
What is the Gross Profit figure for Hotel ABC?
£249 100
£100 900
£350 000
£42 000
What is the Gross Profit percentage figure for Hotel ABC?
871.85%
75.40%
71.17%
75.00%
What is the total expenses figure for Hotel ABC?
£201,600
£207,100
£191,300
£193,550
What is the Net Profit figure for Hotel ABC?
£47,500
£57,800
£55,550
£42,000
What is the Net Profit percentage for Hotel ABC?
12.00%
1.2%
12.10%
0.12%
Which of the following does NOT appear in the Balance Sheet?
Net Profit
Creditors
Net Assets
Motor Vehicle Expenses
Which of the following are ALL examples of fixed assets?
Premises, Machinery, Fixtures and Fittings
Rent, Computer Equipment, Motor Vehicles
Office Equipment, Stock, Capital
Bank Overdraft, Long-Term Loans, Cash
Which of the following is a current liability?
Long-Term Loan
Debtor
Bank Overdraft
Drawings
How is Working Capital calculated?
Fixed Assets + Current Assets
Current Assets + Current Liabilities
Current Assets - Current Liabilities + Net profit
Current Assets - Current Liabilities
Which two items in the Balance Sheet should 'balance'?
Closing Capital and Working Capital
Net Assets and Closing Capital
Opening Capital and Closing Capital
Drawings and Closing Capital
What is the correct calculation for the Closing Capital figure in the 'Financed by' section of the Balance Sheet?
Opening Capital + Net Profit - Drawings
Working Capital + Net Profit - Drawings
Opening Capital + Net Profit + Drawings
Opening Capital - Net Profit - Drawings
What is the total fixed assets figure for Hotel ABC?
£104,000
£93,000
£95,000
£11,000
What is the total current asset figure for Hotel ABC?
£53,000
£11,900
£95,000
£52,500
What is the working capital figure for Hotel ABC?
£9,000
£101,290
£42,500
£147,500
What is the long-term liabilities figure for Hotel ABC?
£104,000
£52,500
£42,500
£60,000
What is the net assets figure for Hotel ABC?
£42,500
£86,500
£60,000
£146,500
What is the closing capital figure for Hotel ABC?
£86,500
£60,000
£42,500
£110,000
What does the line on the BE graph in Question 25 represent?
Fixed Cost line
Total Cost line
Variable Cost line
Sales line
What does the line on the BE graph in Question 26 illustrate?
Fixed Cost line
Total Cost line
Variable Cost line
Sales line
What does the vertical axis on a break-even graph represent?
The expected sales figure plus costs
The expected number of customers or items sold
The break-even point
The margin of safety
At the break-even point, which of the following statements is true?
A high level of profit is made
The business is failing
No profit or loss is made
The business is making a loss
How is the Margin of Safety percentage calculated?
(BEP - Sales) / Expected Number of Items * 100
(BEP - Expected Number of Items) / Expected Number of Items * 100
(Expected Number of Items - Sales) / Expected Number of Items * 100
(Expected Number of Items - BEP) / Expected Number of Items * 100
What is the Gross Profit for the MH Hotel as per the Forecast Profit Statement for Breakeven calculations?
£451,500
£348,500
£189,000
£254,000
What is the Net Profit for the MH Hotel according to the provided data?
£189,000
£197,500
£254,000
£348,500
According to the document, how many customers are expected for the MH Hotel?
10,000
1,000
100,000
5,000
What is the contribution per item for The MH Hotel?
£38.65
£3865
£3.865
£38,650
What is the breakeven point for The MH Hotel in terms of customers?
4891 customers
4890 customers
489 customers
48910 customers
What is the Margin of Safety percentage for The MH Hotel?
51.09%
51%
5.109%
510.9%
What is the Gross Profit percentage as shown in the financial statement?
71.17%
12.00%
15.00%
60.00%
According to the financial statement, what is the total amount of Expenses?
207,100
249,100
100,900
42,000
What is the Net Profit amount listed in the financial statement?
42,000
207,100
100,900
249,100
Which of the following is the highest expense category in the financial statement?
Salaries & Wages
Motor Vehicle Expenses
Insurance
Advertising
What is the total amount of Fixed Assets listed on the balance sheet for Hotel ABC as of 31.12.13?
£104,000
£95,000
£146,500
£86,500
As of 31.12.13, what is the amount of Net Assets for Hotel ABC?
£86,500
£104,000
£42,500
£52,500
What is the total amount of Current Liabilities for Hotel ABC as shown in the balance sheet dated 31.12.13?
£52,500
£95,000
£42,500
£60,000
How much is the Closing Capital for Hotel ABC according to the balance sheet of 31.12.13?
£86,500
£68,000
£110,000
£23,500
What is the Gross Profit of MN Hotel as listed in the document?
$451,500
$348,500
$197,500
$254,000
How much are the Fixed Costs for MN Hotel?
$189,000
$65,000
$254,000
$197,500
The Breakeven point for The MH Hotel is:
4891 customers
£4890
4890.03 customers
£4890.03
What is the Margin of Safety percentage calculated for MN Hotel?
51.09%
38.65%
4,891
4,890.04
