Chapter 7: Cost Control (1) Flashcards

1
Q

basic financial cost records

for forecasting needs

includes probable activities, their costs, and the source of anticipated income

A

budget plan

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2
Q

basic financial cost records

provides latest information on sales, food costs, and transaction count

A

daily food cost report

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3
Q

basic financial cost records

income and expenses summary

A

profit loss statement

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4
Q

basic financial cost records

activities and accomplishments summary of the year

includes future development plans

A

annual report

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5
Q

basic financial cost records

assets, liabilities, and capital statement at a given period

A

balance sheet

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