The Number of Customers That Bob's Barbecue Serves Varies Considerably

question 165

Multiple Choice

The number of customers that Bob's Barbecue serves varies considerably from hour to hour. In determining the number of cash registers to install, they should use

• A) average demand.
• B) peak demand.
• C) low demand.
• D) high demand.
• E) normal demand.

---

Definitions:

Expense Accounts

Expense accounts track the costs incurred by a business in the course of its operations, such as utilities, rent, and payroll.

Adjusted Trial Balance

A list of all accounts and their balances after adjustments, used in the preparation of financial statements.

Closing Entry

An accounting procedure used to transfer balances from temporary accounts to permanent ones at the end of an accounting period, thereby preparing the temporary accounts for the next period.

Income or Loss

The financial result of an organization's operations over a specific period, calculated as revenue minus expenses, indicating profitability or a deficit.