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  • College For Research and Technology: Final Examination

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    judea dizon
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    The document provides definitions for 25 terms related to business transactions, inventory management, product costing, and pricing strategies. It includes definitions for terms like invoice, credit note, statement, storage control, food items, cry-o-vac, location, requisitions, intra kitchen transfer, product costing, overhead cost, price, pricing strategy, premium pricing strategy, penetration pricing strategy, economic pricing strategy, price skimming, psychological pricing strategy, product line pricing, and bundle product pricing. The purpose is to test understanding of common business and accounting terminology.

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    The document provides definitions for 25 terms related to business transactions, inventory management, product costing, and pricing strategies. It includes definitions for terms like invoice, credit note, statement, storage control, food items, cry-o-vac, location, requisitions, intra kitchen transfer, product costing, overhead cost, price, pricing strategy, premium pricing strategy, penetration pricing strategy, economic pricing strategy, price skimming, psychological pricing strategy, product line pricing, and bundle product pricing. The purpose is to test understanding of common business and accounting terminology.

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    33 views2 pages

    College For Research and Technology: Final Examination

    Uploaded by

    judea dizon
    The document provides definitions for 25 terms related to business transactions, inventory management, product costing, and pricing strategies. It includes definitions for terms like invoice, credit note, statement, storage control, food items, cry-o-vac, location, requisitions, intra kitchen transfer, product costing, overhead cost, price, pricing strategy, premium pricing strategy, penetration pricing strategy, economic pricing strategy, price skimming, psychological pricing strategy, product line pricing, and bundle product pricing. The purpose is to test understanding of common business and accounting terminology.

    Copyright:

    © All Rights Reserved
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    College for Research and Technology

    FINAL EXAMINATION

    GENERAL DIRECTIONS: Read and follow the directions carefully.

    I.IDENTIFICATION: Identify the following statement given below. Write and answer
    with CAPITAL LETTERS.

    1. It is sent to the purchaser, informing him that goods ordered have been
    dispatched, giving the date of dispatch and method of carriage used.-ADVICE
    NOTE
    2. It is sent by the supplier to the purchaser accompanying the goods ordered.-
    DELIVERY NOTE
    3. The supplier sends an invoice to the purchased usually a few days after
    delivery has been made and accepted, giving financial details of the
    transaction bill.- INVOICE
    4. It is advices to clients, setting out allowances made for goods returned or
    adjustment.- CREDIT NOTE
    5. It is summaries of all invoices and credit notes sent to the purchaser during
    the previous accounting period usually one month.- STATEMENT
    6. It is an integral part of any food and beverage control system.- STORAGE
    7. It is a technique through with the items are stored in a proper way to control
    merchandise and prevent loss through theft and spoilage.- STORING
    CONTROL
    8. It is kept in various types of storage – dry stores, vegetables stores, dairy
    stores, and meat boxes and freezers.-FOOD ITEMS
    9. It is means meat is packed in plastic bag.- CRY-O-VAC
    10. It is a storeroom is near if not immediately adjacent to the receiving station
    and the kitchen. –LOCATION
    11.It is a written authority for goods to be removed from the store.
    REQUISITIONS
    12. Food items are transferred form one kitchen to another. –UNDER KITCHEN
    TRANSFER
    13. This type of transfer is used in between two separate departments for
    example bar to kitchen and or kitchen to bar.- INTRA KITCHEN TRANSFER
    14.It is the accounting process of determining all business expenses pertaining
    the creation of company products. –PRODUCT COSTING
    15. To the costs used to create a product.- PRODUCT COST
    16. The costs that need to be paid regardless of sales.- OVERHEAD COST
    17. It is the amount of money expected, required, or given in payment for
    something.-PRICE
    18. It is important for companies who wish to achieve success by finding the
    price point where they can maximize sales and profits.- PRICING STRATEGY
    19. Indicates brand awareness and a unique product. – PREMIUM PRICING
    STRATEGY
    20. The price charged for products and services is set artificially low in order to
    gain market share.- PENETRATION PRICING STRATEGY
    21. The costs of marketing and promoting a product are kept to a minimum. –
    ECONOMIC PRICING STRATEGY
    22. It sets a relatively high price for a product or service at first, then lowers the
    price over time. –PRICE SKIMMING
    23. It is used when the marketer wants the consumer to respond on an
    emotional, rather than rational basis.- PYSCHOLOGICAL PRICING STARTEGY
    24.There is a range of products or services the pricing reflects the benefits of
    parts of the range.- PRODUCT LINE PRICING
    25. It is combines several products in the same package. – BUNDLE PRODUCT
    PRICING

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