Name: Homework 17

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Question 1   Multiple Choice (1.0000 points)
  Question: Which of the following must be deducted from gross collectible income to arrive at net
    Laundromat fees
Back rent payments
Vacant space
Vending contracts

Question 2   Multiple Choice (1.0000 points)
  Question: Fixed expenses refer to expenses that
    fluctuate every year.
are put aside for improvements.
do not fluctuate with the amount of occupancy.
increase or decrease with the amount of occupancy.

Question 3   Multiple Choice (1.0000 points)
  Question: When both fixed and variable expenses are deducted from gross collectible income, the result
    net operating income.
effective gross income.
potential gross income.
personal income.

Question 4   Multiple Choice (1.0000 points)
  Question: Which portion of debt service should be considered an expense on the profit and loss
    Principal and interest
Interest portion only
Principal portion only
Neither principal nor interest is considered on the profit and loss statement

Question 5   Multiple Choice (1.0000 points)
  Question: All of the following are reasons to study the operating budget EXCEPT
    gives the owner an idea of the cash flow.
gives the manager a guide for future performance.
is a measure of past performance.
hide discrepancies.