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nikitadnepr [17]
3 years ago
14

At your first meeting with Alex, you ask to see his most recent financial statements so that you can get an overall assessment o

f the restaurant's financial health. Alex looks at you blankly and says, "I'm a chef, not an accountant, and I don't know what financial statements you're talking about. Can you explain to me?" What should your response be?
Business
1 answer:
Anon25 [30]3 years ago
8 0

Answer:

The two main financial statements are the income statement and the balance sheet.

In the income statement all the revenue and the expenses should be accounted for, resulting in net profits or net losses. The income statement shows how the restaurant has been performing over a given period (usually a year).

The balance sheet is like a photo of the restaurant itself at a specific point in time. The balance sheet shows what assets the restaurant has, how much money it owes and what percentage of the business really belongs to the owners.

The other two financial statements are the statement of owner's equity and the statement of cash flows, but they are more complicated to explain and not that basic for a small business.

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Brianna was a veteran manager and had been with the company for several years when she got promoted to the​ company's flagship o
Kitty [74]

Answer:

In the restaurant business, self inspections can help you ensure that the food is always safe for your customers (better quality food) , lower the overall costs of the restaurant and helps to increase your reputation (a clean restaurant is always seen as a better restaurant).

Self inspection doesn't mean that the manager herself has to carry out the inspection, another employee can. Self inspection refers to making sure you comply with all regulations without having an inspector come and evaluate your restaurant. Self inspections will help the restaurant get higher inspection scores, and that was one of Brianna's major accomplishments.

8 0
3 years ago
Imagine a hypothetical economy with a population of 100 people, 80 of which over sixteen. Forty eight of these people who are wo
Ainat [17]

Answer:

a) unemployment rate = 15

b) unemployment rate = 2.5

Explanation:

unemployed people are those who are willing and available to work and have actively been seeking a job in the past four weeks. This accurately describes the 12 people who are willing, able and looking for work but cannot find jobs. To calculate the unemployment rate in percentage, the following formula is used:

unemployment\ rate = \frac{number\ of\ unemployed}{labour\ force} \times 100\\

Where:

a) Number of unemployed = 12

Labour force = 80 (number of people over 16 years of age)

\therefore unemployment\ rate = \frac{12}{80} \times 100 = 0.15 \times 100 = 15\\

b) if 10 of the unemployed people get discouraged and give up looking for work, the number of unemployed becomes 2 persons, (12 - 10 = 2).

\therefore unemployment\ rate = \frac{2}{80} \times 100 = \frac{200}{80} =  2.5

6 0
2 years ago
20. Anna reports the following income and loss: Salary$ 135,000 Income from activity A60,000 Loss from activity B( 35,000) Loss
Dmitry [639]

Answer:

Based on this information, Anna has the following suspended losses:

A) Activity B    Activity C

     $11,667      $18,333

Explanation:

a) Data and Calculations:

Income and Loss:

Salary                         $ 135,000

Income from activity A  60,000

Loss from activity B    ( 35,000)

Loss from activity C   ( 55,000)

The loss from activity B and activity C are reduced by the income from activity A in proportion.

Thus, the income from activity A reduces the losses in B and C:

Income from activity A  $60,000

Activity B loss of $35,000 is reduced by $60,000 * $35,000/$90,000 = $23,333 to $11,667 ($35,000 - $23,333)

Activity C loss of $55,000 is reduced by $60,000 * $55,000/$90,000 = $36,667 to $18,333 ($55,000 - $36,667)

b) Note that the losses from activities B and C cannot be reduced by the salary income because both activities are passive sources of income and not active like salary.

4 0
3 years ago
For each of the following, state whether you expect the distribution to be symmetric, right skewed, or left skewed. Also specify
olga2289 [7]

Answer:

I have solved part a) because question contains only part a) however it has 3 more parts as well but that are not mentioned in the question. Part a) is explained below.

Explanation:

a) The distribution should be right skewed as most of the numbers lies at that side while using the median to correctly represent an observation in the distribution.

To represent the variability of the observations, interquartile range could be used. Since, there is a good number of expensive houses and this would increase the mean and standard deviation. So, it is better to use interquartile range to represent it, i.e. upper quartile for expensive houses, and lower quartile for less expensive houses and middle quartile for mid-range priced houses.

8 0
3 years ago
It is estimated that it could take up to ____ for your liver to get rid of the alcohol in one standard drink. ✗
stellarik [79]

It is estimated that it could take up to 1 hour for your liver to get rid of the alcohol in one standard drink.

4 0
3 years ago
Read 2 more answers
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