The central processing unit (CPU) is best described as:

#16 Management should compare their business’s actual operating results with industry averages and norms to determine how their property compares to the industry.

#7 The food and beverage menu abstract tracks:

#21 Suppliers utilize financial statements of their buyers to:

#1 The goal of financial accounting is to provide more timely operating results related to revenues and expenses to help management maximize the operating performance of the business.

#22 Vertical analysis requires management to:

#3 The last line on the income statement, often referred to as the bottom line, is net income.

#9 The statement of cash flow presents these three sections.

#30 Capitalizing current operating expenses is a financial trick:

Utilize the following financial information for questions 24 – 27. Mahoney’s Irish Restaurant Financial Information Cost of Food Sold $360,500 Net Income $104,050 Current Assets $107,750 Total Assets $456,000 Current Liabilities $111,750 Total Equity $143,750 Food Sales $1,030,000 Total Long-term Liabilities $200,500 Ratio Formulas: Current Ratio:  current assets/current liabilities Debt to Equity Ratio:  total LT liabilities/total equity Food Cost Percentage:  food cost of sales/food revenues Return on Assets:  net income/total assets Cost-Volume-Profit: fixed costs/(sales price – variable costs)   #27 Calculate Mahoney’s return on assets.