WorksheetsBusiness and Inventory Management Terminology Quiz
Total questions: 63
Worksheet time: 32mins
What does the ABCD Inventory Classification System categorize products based on?
A system of categorizing products according to their perishability and cost per serving.
A system for tracking employee attendance.
A method for calculating sales tax.
A way to organize customer feedback.
What is the definition of Accounts Receivable?
A system to account for revenue that is due, meaning it has been earned but not yet collected.
A record of all expenses paid in cash.
A list of all products in inventory.
A summary of employee work hours.
What is an Audit Trail?
A series of records, documents, and reports that traces the flow of resources through an operation.
A list of all employees in a company.
A method for calculating profit margins.
A type of inventory storage system.
What does the term "Bar Par" refer to?
An established number of bottles of each type of beverage that has to be in the behind-the-bar storage areas.
A type of alcoholic drink.
A pricing strategy for beverages.
A method for training bartenders.
What is the Base Selling Price?
The result of a pricing formula, considered a starting point from which other factors must be assessed and the final selling price adjusted accordingly.
The lowest price a product can be sold for.
The price after all discounts are applied.
The cost of producing a product.
What is a Benchmark in business terms?
A pre-established statement or definition about what must occur as a performance to be considered acceptable.
A type of financial report.
A method for storing inventory.
A list of company policies.
What is a Call Brand?
Brand of liquor offered that is a higher quality and price than the property’s house brand liquor.
A type of customer service call.
A brand of non-alcoholic beverages.
A type of inventory system.
What is the Cashier Banking System?
A revenue collection system by which guests pay the cashier, the bartender, or the food and beverage server (who then pays the cashier).
A method for tracking employee hours.
A system for managing inventory.
A way to calculate taxes.
What does Coaching refer to in an employee context?
Employee coaching activities that are typically informal, unplanned sessions used to improve skill, correct inappropriate behavior, and reinforce performance.
A formal annual review process.
A method for calculating bonuses.
A way to track sales performance.
What is Collusion in a corporate context?
An act in which two or more employees secretly interact in an effort to steal from the corporation.
A method for improving teamwork.
A type of employee training.
A way to increase sales.
What is the primary purpose of commercial food service operations?
To make a profit.
To provide free meals to the community.
To train culinary students.
To supply food only to schools.
What are convenience foods?
Food products that have some or all of the labor built into them.
Foods that are only available in restaurants.
Foods that require extensive preparation on site.
Foods that are always served cold.
What does the management task of controlling involve?
Comparing actual results with expected results and safeguarding the operation's property.
Hiring new staff members.
Designing the restaurant layout.
Cooking food for customers.
What are core values in a business context?
Shared beliefs, convictions, and principles that unite staff members.
The total revenue generated by a business.
The number of employees in an organization.
The types of food served in a restaurant.
What is a cost factor?
A constant value used to convert "as purchased" prices into a revised cost per servable pound.
The total cost of building a restaurant.
The price of a single menu item.
The amount of money spent on advertising.
What is Cost-Volume-Profit (CVP) Analysis also known as?
Break-even analysis.
Menu engineering.
Inventory management.
Customer satisfaction analysis.
What does a day part refer to in food service operations?
A time interval during the day for which financial and sales information is tracked.
A specific menu item served only at night.
The part of the day when the restaurant is closed.
The number of staff working in a shift.
What information does a Daily Server Productivity Report provide?
Details of revenue activity for all assigned server records, including guest count, total revenues, and average revenues.
The nutritional content of menu items.
The number of hours each server worked.
The list of ingredients used in the kitchen.
What is a digital menu?
An electronic display screen programmed to display the menu using video, audio, and/or print.
A printed menu handed to customers.
A handwritten list of dishes.
A menu available only on the restaurant's website.
What is the definition of E-commerce?
All aspects of business and market processes enabled by the Internet and web-based technologies.
The process of purchasing goods and services over the Internet.
A report of the organization's profitability.
Expenses that do not vary with the number of guests served.
What does E-procurement refer to?
The process of purchasing goods and services over the Internet.
A brand of liquor served to guests when a call brand is not specified.
The management task of reviewing the operation's progress.
A process designed to minimize inventory cost.
What is the main purpose of evaluating in an organization?
Reviewing the operation's progress toward organizational goals, measuring employee performance, and assessing the effectiveness of training programs.
Purchasing goods and services over the Internet.
Minimizing inventory cost by purchasing small quantities more frequently.
Serving a brand of liquor when a call brand is not specified.
Which of the following best describes a fixed cost?
Expenses, such as for rent or insurance, that do not vary with the number of guests served.
A report of the organization's profitability.
A process designed to minimize inventory cost.
A brand of liquor served to guests when a call brand is not specified.
What are guest check printers sometimes referred to as?
Slip printers
Portable server terminals
Profit and loss statements
Inventory turnover devices
What is the function of handheld server terminals?
They perform most of the functions of a POS pre-check terminal and enable servers to enter orders at tableside.
They are used to print guest checks automatically.
They are used to calculate inventory turnover rate.
They are used to minimize inventory cost.
What is a house brand?
A brand of liquor served to guests when a call brand is not specified.
A process designed to minimize inventory cost.
A report of the organization's profitability.
A portable server terminal.
What does an income statement indicate?
A report of the organization's profitability that indicates revenues earned and expenses incurred for a specific time.
The process of purchasing goods and services over the Internet.
The number of times inventory is converted into revenue.
A brand of liquor served to guests.
What does inventory turnover rate show?
The number of times in a given period that inventory is converted or turned into revenue.
The process of purchasing goods and services over the Internet.
A report of the organization's profitability.
A process designed to minimize inventory cost.
What is the purpose of a Just-in-Time (JIT) Purchasing System?
To minimize inventory cost by purchasing small quantities more frequently.
To review the operation's progress toward organizational goals.
To serve a brand of liquor when a call brand is not specified.
To print guest checks automatically.
What is a Kiosk in the context of food and beverage service?
Computer terminals on a podium, counter, or table used by guests for self-ordering food or beverage.
A type of food storage unit.
A manual for menu engineering.
A file containing employee records.
What information is typically stored in a Labor Master File?
Employee records and data used to produce labor-related reports, including employee name, job codes, and hourly wage rates.
Menu item popularity and profitability.
Inventory levels and safety stock.
Guest check data.
How is the Maximum Inventory Level calculated?
By adding the minimum safety level to the usage rate.
By subtracting the minimum safety level from the usage rate.
By multiplying the usage rate by the number of menu items.
By dividing the minimum safety level by the usage rate.
What does Menu Engineering involve?
Analyzing and pricing menu items based on profitability and popularity.
Preparing several menu items with the same ingredients.
Calculating inventory levels.
Managing employee wage rates.
What is Menu Mix?
The number of each specific menu item sold during a certain time, relative to the total number of all menu items sold.
The process of preparing several menu items with the same ingredients.
The greatest number of product purchase units permitted in storage.
The French phrase meaning "everything in its place."
What is Menu Rationalization?
The tactic of preparing several menu items with the same basic ingredients.
The process of analyzing menu item profitability.
The calculation of maximum inventory levels.
The theft of revenue by employees.
What is the Minimum Inventory Level (Safety Level)?
The number of product purchase units that must always remain in inventory to reduce the potential for stockouts.
The greatest number of product purchase units permitted in storage.
The number of menu items sold during a certain time.
The amount of cash in the register at closing.
What does the French phrase "Mise en place" mean in food service?
"Everything in its place"; necessary to stock workstations and do preparation tasks before a meal period begins.
"Ready to serve"; the process of serving food to guests.
"Clean as you go"; maintaining cleanliness during food preparation.
"Cook to order"; preparing food only when ordered.
What is meant by "No Ring Sales"?
Theft by an employee who collects revenue, opens the cash drawer by pressing "no sale" or similar key, and makes change.
Sales that are not recorded in the inventory system.
Menu items that are not sold during a certain time.
The process of rationalizing menu items.
What is an Open Check File in a POS system?
A file that maintains current data for all open guest checks that have not been settled by the guest.
A file containing employee wage rates.
A record of menu item sales.
A financial plan for the upcoming year.
What does an Operating Budget indicate?
A financial plan that indicates how business plan goals will be achieved during the upcoming year (i.e., revenue and expense budget).
The number of menu items sold.
The minimum inventory level required.
The process of menu engineering.
What is the management activity that attempts to best assemble and use limited human resources to attain organizational objectives?
Organizing
Planning
Directing
Controlling
Which method estimates food and beverage operating expenses based on the current percentage of each expense related to revenue?
Percentage Method
Prime Costs
Physical Inventory System
Perpetual Inventory System
What is an examination requiring job applicants to demonstrate skills included in the job descriptions for the desired position called?
Performance Test
Periodic Inventory System
Pre-check Terminal
Production Loss
Which inventory system involves visually inspecting or actually counting stock every so often to determine the quantity on hand?
Periodic Inventory System
Perpetual Inventory System
Physical Inventory System
Prime Costs
What is a running balance of the quantity of stored products kept by recording all newly purchased items and all quantities issued from storage?
Perpetual Inventory System
Periodic Inventory System
Physical Inventory System
Petty Cash
What is a cash bank kept by the manager to pay for small expenses incurred by the food service operation called?
Petty Cash
Prime Costs
Production Loss
Pre-check Terminal
What is the practice of physically counting stored products on a periodic basis (such as monthly) when determining product costs for the income statement?
Physical Inventory System
Periodic Inventory System
Perpetual Inventory System
Percentage Method
What is a POS device without a cash drawer that is usually used to enter guests' orders but not to settle guests' checks?
Pre-check Terminal
Performance Test
Petty Cash
Prime Costs
What are the costs of product and labor that comprise the most significant costs in a food and beverage operation called?
Prime Costs
Production Loss
Percentage Method
Petty Cash
What is the difference between the raw or "as purchased" weight and the preparation or edible portion weight called?
Production Loss
Prime Costs
Physical Inventory System
Perpetual Inventory System
What is a Purchase Order System?
An ordering system requiring that formal documents be sent to eligible suppliers so they can quote prices for products of agreed-upon quantities.
A system for tracking employee attendance.
A method for calculating total sales.
A process for hiring new staff.
What does a Purchase Specification describe?
The quality, size, weight, count, and other quality factors desired for a particular item.
The total cost of all purchases in a month.
The number of employees needed for a shift.
The amount of time required to deliver an order.
What is Safety Level Inventory?
The minimum quantity of product that should always be available in inventory to reduce the potential for stockouts.
The maximum amount of product that can be stored in a warehouse.
The number of products sold in a day.
The total value of all inventory items.
What is Speculative Purchasing?
A system in which managers make judgments about future prices of products and purchase more products if prices are expected to increase.
A method for reducing waste in the kitchen.
A way to calculate employee wages.
A process for training new staff.
What does a Standard Recipe provide?
The formula for producing a food or beverage item, summarizing ingredients, quantities, preparation procedures, and portion size.
The list of all available menu items.
The schedule for kitchen staff.
The cost of each ingredient.
What is Underringing?
A type of theft where an employee collects the proper revenue from the guest but records a lower sales value on the check and steals the difference.
A method for increasing sales.
A way to improve customer service.
A process for training new employees.
What does Usage Rate refer to?
The number of purchase units of a product used during a normal order period.
The number of customers served in a day.
The total revenue generated in a month.
The amount of time employees work per week.
What is meant by Value in a business context?
The relationship between price and quality.
The total number of products sold.
The amount of profit made in a year.
The number of employees in a company.
What are Variable Costs?
Costs that change proportionately with the volume of business (e.g., food costs, beverage costs, wage labor costs).
Fixed monthly rent payments.
The cost of purchasing equipment.
The total amount spent on advertising.
What is a Vision Statement?
A broad and abstract view of what an organization believes it would look like if it were ideally effective.
A detailed list of daily tasks.
A summary of financial performance.
A description of the company’s products.
What is a Workstation Printer?
A unit usually placed at kitchen preparation areas and service bars that relays orders submitted by servers at POS terminals to production personnel.
A printer used for printing customer receipts at the front desk.
A device for scanning inventory items.
A machine for making coffee.
What is Yield Percentage?
The ratio of servable weight to original weight, calculated by dividing the servable weight by the original weight and multiplying by 100.
The amount of product produced in a factory.
The percentage of defective items in a batch.
The ratio of cost to profit in food production.
What is a Yield Test?
The test performed on all products to determine their standard yield.
A test to check the taste of food.
A test to measure the temperature of cooked food.
A test to determine the shelf life of a product.
