Cash Management Quiz

Tuesday February 07 , 2012

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Cash shortage percentage of sales target for Fast Food Restaurants is:

less than .05%
.05% – 1%
1% – 2%
2% - 3%
3%– 4%

The best of these practices in a cash management program is:

Have cashier sign a policy to pay back shortages in their till.
Inspect every bill for counterfeit.
All bills faced the same way in till.
Triple count all deposits
Cash handling policies signed by every cashier.

Cash handling performance can best be enhanced by:

Holding cashiers accountable for standards in voids, price reductions and refunds
Inspect every bill for counterfeit
Having customers swipe their own credit cards
Working more efficiently during rush times to get more cars through the drive-thru
Not ringing up every sale individually during peak rush times

According to QSR industry reports, employee theft in Fast Food restaurants:

Represents 3-5% of top line sales
Is due to a continuum of low salaries of the employees
Is declining because of the increase use of credit cards
D. Improves when employees are given free meals
E. Is reduced by 37% when employee applications are thoroughly reviewed

According to an anonymous survey by the National Food Service Security Council, what percentage of fast food employees admitted to stealing?

0
42
19
26
9

Which of the following is a component of a cash management program?

Beginning and end counts of tills are counted by no one but the cashier
Progressive discipline polices address cash handling violations
All cash collected during the shift must remain with the till
Cash tills are audited every 2 hours by the manager in charge
Cash tills are audited at random times by random people in the restaurant

Rolling Deposits:

Involve collusion of dishonest bank and restaurant employees
Makes sure the deposit bag can be hidden from public view on the way to the bank
Is a procedure to consolidate proceeds from all shifts into one daily deposit
Involves a dishonest manager covering up a deposit theft
Is an armored car service requirement in counting cash and credit card receipts

The most common counterfeit bill passed in the U.S. is:

$5
$10
$20
$50
$100

Audits should be conducted on the cash tills:

Before each shift
Every two hours
Randomly
Each week
On every cash shortage over $5

Skimming”, one of the fastest growing crimes against fast food restaurants is done by:

Dumpster diving to retrieve valuable personal information
Swiping the customer’s credit card into a second portable credit card device
Breaching the customer credit card database from a remote location
Using ‘smart phones’ to record customer credit transactions
Clogging the ATM so that the customer’s credit /debit card gets stuck and later retrieved

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