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Business Management Warm-Ups 11/14&16/23

Quiz by NeKeisha King Price

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10 questions
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  • Q1
    Which is an essential factor to consider when budgeting for a food truck?
    Color of the food truck
    Food and ingredient costs
    Number of employees
    Location of the food truck
  • Q2
    What is an effective method for tracking expenses in a food truck budget?
    Hiring an accountant
    Keeping detailed records
    Guessing expenses
    Ignoring expenses
  • Q3
    Why is it important to set a budget for a food truck?
    To attract more customers
    To experiment with different recipes
    To have a fancy food truck
    To manage expenses and maximize profits
  • Q4
    What is a variable expense in a food truck budget?
    Salary of the chef
    Fuel costs
    Food truck permit
    Insurance fees
  • Q5
    When creating a budget for a food truck, what should be considered as a fixed expense?
    Advertising costs
    Fuel expenses
    Monthly parking fees
    Cost of ingredients
  • Q6
    How can a food truck budget be improved to increase profitability?
    Negotiating better supplier deals
    Purchasing expensive kitchen equipment
    Increasing menu prices
    Expanding to multiple locations
  • Q7
    What is a common mistake to avoid when budgeting for a food truck?
    Not setting a budget at all
    Underestimating operating expenses
    Overestimating operating expenses
    Focusing solely on revenue
  • Q8
    Why is it important to regularly review and adjust a food truck budget?
    To copy the budget of another food truck
    To stick rigidly to the original budget
    To ignore potential financial challenges
    To adapt to changing market conditions
  • Q9
    When budgeting for a food truck, what is an example of a variable expense?
    Website maintenance fees
    Monthly rent for the food truck
    Cost of perishable ingredients
    Purchase of kitchen utensils
  • Q10
    What is an important factor to consider when budgeting to purchase a food truck for high school students?
    Location for parking
    Type of cuisine offered
    Size of the truck
    Cost of equipment and maintenance

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