Chapter 16 – Review Questions 1, 4, 8 (p. 485)
1. In drawing up a sales budget for a casual Italian restaurant, what percentage of weekly sales should be forecasted for Friday and Saturday evenings?
4. Aside from its value in planning, why is it essential to do a budget forecast of sales, costs, and profit?
8. The procedure in seeking a loan from the Small Business Administration is fairly elaborate. What is the usual sequence for this process?
Chapter 17 – Review Questions 2, 3, 9 (p. 513)
2. What are some dangers of operating a restaurant as a partnership?
3. If you wanted to operate your restaurant as a corporation but be taxed as an individual, how could you arrange this?
9. As a limited partner in a restaurant, what part do you have in making management and financial decisions?