Business law 2023 L3 Pt. 1

Question 1

cost of ingredient forbuffetentreethatyields 50 portions is$225 n themostcost % is 30% what is perportion selling price?

Accepted Answer

$15 (225/50)/0.3

Question 2

Whatis the recommended guideline a managershould use if anemployee's actual performance differs fromexpected performance

Accepted Answer

close the gap through mutual agreement

Question 3

What does yield management produce?

Accepted Answer

maximization of revenues

Question 4

What department is considered the core business unit of most facilities?

Accepted Answer

golf operations

Question 5

If wholesale price of S wedge is $70, retail price is $125 and final sales price is $105 what is gross margin percentage

Accepted Answer

33%

Question 6

Calculate the dollars per round given: Retail sales, $500,000; Gross margin, $200,000; Rounds played, 50,000

Accepted Answer

$10

Question 7

What does the preparation of an operating budget for an established food and beverage operation normally begin with?

Accepted Answer

historical financial information

Question 8

Which of the following would be considered a complete objective?

Accepted Answer

increase rounds by 10% in the next year

Question 9

Demand based pricing can be employed to change the demand curve for the use of perishable tee times.

Accepted Answer

True

Question 10

A cash flow budget is primarily concerned with what measure?

Accepted Answer

money on hand at the end of the period

Question 11

What is the most likely reason that electric cars would require more storage space than gas cars?

Accepted Answer

battery charging equipment

Question 12

What strategy is being used when a head golf professional only offers solutions when requested by the assistant.

Accepted Answer

supporting

Question 13

Thefacilitywantstobuynewgolfcarts.boardofdirectorshasrecommendedanexpensivemodel.What'sbestwayto decide if we can afford

Accepted Answer

forecast revenue, expenses, and income

Question 14

Guideline for effective feedback?

Accepted Answer

clear, time based, unbiased

Question 15

What information should form the basis of a golf shops 12 month budget?

Accepted Answer

forecasts and assumptions in the business plan

Question 16

What markdown would be required to sell a poorly moving keystone item at cost?

Accepted Answer

50%

Question 17

What are the key points when developing a power statement?

Accepted Answer

use concise bullet points

Question 18

What employee problem poses the biggest challenge for most managers?

Accepted Answer

does not follow procedures correctly

Question 19

What is the primary consequential benefit of having a well run and successful food and beverage operation?

Accepted Answer

income potential

Question 20

Which of the following statements best describes the meaning of "food cost control"?

Accepted Answer

keeping to predetermined standards

Question 21

What is the formula for merchandising net operating income?

Accepted Answer

revenue- (cost of goods + operating expenses)

Question 22

What is one of the managers goals during a joint problem solving discussion?

Accepted Answer

avoid the impulse to place blame

Question 23

Which of the following is a type of lease agreement?

Accepted Answer

escalating

Question 24

What method do managers use to increase their knowledge of financial performance and controls?

Accepted Answer

spot audits

Question 25

What is the first step in acquiring a new technology based system?

Accepted Answer

asses facility needs

Question 26

what action identifies whether a performance problem continues to exist?

Accepted Answer

establish a timeline to follow up

Question 27

Which of the following is a quantitative result produced by a rainmaker?

Accepted Answer

drives top line growth

Question 28

Managers demeanor during reinforced problems solving?

Accepted Answer

mentor and be more assertive

Question 29

Which characteristic of goals and objectives is described as capable of being observed, recorded and measured?

Accepted Answer

specific

Question 30

Which interaction strategy would a manager use during the final decision making stage?

Accepted Answer

directing

Question 31

Ateammembersetthehole locationsaccurately and efficientlyisassignedtoroutinelycompletethis task.What is a result of this

Accepted Answer

positive consequence for positive behavior

Question 32

Which type of private facility is profitability the primary operational goal?

Accepted Answer

privately managed

Question 33

True or False: Assumptions are necessary for forecasting numbers

Accepted Answer

True

Question 34

Which of the following contributions from the golf professional would most benefit the food and beverage operation?

Accepted Answer

brand promotion

Question 35

HowshouldaGMusetheprincipleofsignificantworkwhendirectingthemerchandisertoconduct spot auditsduetohighshrinkageineqipmnt

Accepted Answer

communicate financial impact

Question 36

Car path maintenance is considered a fleet expense for purposes of financial forecasting.

Accepted Answer

True

Question 37

Which is a management tool for defining the structure of the golf operation?

Accepted Answer

mission statement

Question 38

Which of the following is an example of qualitative data?

Accepted Answer

feedback about pace of play

Question 39

How can a facility foster a culture of improvement?

Accepted Answer

open communication

Question 40

What factors would the food and beverage manager use to determine that good quality food service is occurring?

Accepted Answer

staffing levels and training

Question 41

According to the USGA what does browning becoming the new green imply?

Accepted Answer

reducing water usage

Question 42

what is the recommended minimum radius for the level area around a hole location?

Accepted Answer

3 feet

Question 43

Whichelement ofthe performancesystem is utilizedwhenmanagerscommunicate the informationneededforperformer tocompletetask

Accepted Answer

expectations

Question 44

Which stage of four stage problem solving sequence givesperformer opportunitytotake ownership of thesolution to problem?

Accepted Answer

joint problem solving

Question 45

What is an internal intersection?

Accepted Answer

a facility within itself

Question 46

Which delegation strategyis being used when a manager frequently checkson the performer's progress and provides feedback

Accepted Answer

directing

Question 47

member attempts to return a shirt and assistant pro gets head pro involved what is that strategy?

Accepted Answer

consequences

Question 48

A long termemployee is being replaced by a assistant whowill receive higher pay,Which would be themost reasonableoutcome

Accepted Answer

increased sales will offset high expenses

Question 49

Which of the following is a key difference between retail operations and food and beverage operations?

Accepted Answer

recieving procedures

Question 50

True or False: If a performer is motivated he can succeed in any environment.

Accepted Answer

True

Question 51

Which action would be the most appropriate facility response when income fails to meet expectations?

Accepted Answer

increase the number of rounds through better promotions

Question 52

At what stage of the golf course planning process is the availability of utilities considered?

Accepted Answer

site analysis

Question 53

What action increases the chances of finding a quick solution that satisfies everyone?

Accepted Answer

address problems early

Question 54

Cost of goods sold is the value at cost of all merchandise sold,stolen, damaged or destroyed during a given time period.

Accepted Answer

True

Question 55

Allocated 13% ofits 325,000 retail sales forecast to woods. based on a 70% COGS,what was the estimated cost of the woods

Accepted Answer

$29,575 (325,000)x(0.13)x(0.7)

Question 56

Which of the following benefits makes the food and beverage services an important part of the tournament operations?

Accepted Answer

revenue source

Question 57

Which of the following is an example of a weakness that a SWOT analysis might disclose?

Accepted Answer

high inflation rates

Question 58

What does "increased hard good sales by 25% by offering multiple demo days" represent?

Accepted Answer

power statement

Question 59

Which formula will disclose the percent of food and beverage income spent on payroll?

Accepted Answer

payroll costs divided by food and beverage total income

Business law 2023 L3 Pt. 1

Questions 59

Business law 2023 L3 Pt. 1

Questions 59