PGA PGM 3.1 All exams with
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elaborated correct answers graded A+
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,You are in the process of completing a business plan for the golf shop. Initial forecasts of sales,
expenses, and profit have been made. Past data has been analyzed and important inside and outside
factors have been identified. What is the next step to be taken towards completing the plan? - correct
ans:Make assumptions about how inside and outside factors will affect the business.
"Jason Du Pre is purchasing the Fallen Oaks Golf Course. The business plan he presented to his banker
included his history of successfully operating similar facilities, budget projections for the first five years
under his management, and objectives and strategies for reaching his goals. The banker rejected his
loan application because of missing information. What important element is missing from Du Pre's
business plan?" - correct ans:Proposed mission statement
The process for developing a business plan starts before you establish the goals you would like to
achieve for the shop's coming year. - correct ans:TRUE
A vision defines the short-term objectives that must be accomplished in the upcoming year. - correct
ans:FALSE
What is the process called when the manager reviews total rounds to determine who is playing and
when? - correct ans:Yield Analysis
Mission statements should include a definition of the facility's underlying financial model. - correct
ans:FALSE
Which of the following would be considered internal data for planning purposes? - correct ans:Prior
year's budget
What should govern the decision to pursue an opportunity? - correct ans:Meets organizational goals and
objectives
Which of the following is an example of a weakness that a SWOT analysis might disclose? - correct
ans:No mission statement
The interpretation of quantitative data is less susceptible to differences of opinion than qualitative data.
- correct ans:TRUE
,The utility of your business plan for managing day-to-day operations in a golf shop depends on your
ability to manage internal factors. - correct ans:TRUE
Which of the following is an example of qualitative data? - correct ans:Feedback about pace of play
Consider the following statement as part of a business plan: "Increase range profits by 20% by the end
of the next fiscal year." According to the Business Planning course, this statement would best be
classified as an objective. - correct ans:TRUE
Which characteristic of goals and objectives is described as capable of being observed, recorded, and
measured? - correct ans:Specific
The following agenda was part of a golf range business plan: "Purchase 250 dozen new range balls and
rotate usage three times a year. Who: Head Professional. When: By February 15. Cost: $2100."
According to the Business planning course, which of the following describes the business plan
component represented by this statement? - correct ans:Strategy
Which of the following would be considered a complete objective? - correct ans:Increase rounds by 10%
in the next year
Which action would be the most appropriate facility response when income fails to meet expectations? -
correct ans:Increase the number of rounds through better promotions
A cash flow budget is primarily concerned with what measure? - correct ans:Money on hand at the end
of the period
Consider the following table. Based on trend analysis, what forecast would be made on the number of
weekend rounds that will be played in year five? - correct ans:They will increase.
Which of the following is one of the techniques is used to validate assumptions? - correct ans:Expert
Review
, What is the formula for Merchandise Net Operating Income? - correct ans:Revenue - (Cost of Goods +
Operating Expenses)
A long-term golf shop employee is being replaced by an assistant who will receive higher compensation.
Which would be the most reasonable assumption given this situation? - correct ans:Increased sales will
offset higher expenses.
Sales staff labor is included in the cost of goods. - correct ans:FALSE
Conducting a base year analysis is a good choice for a facility that has just completed a project that
added nine new holes to the original 9-hole course. - correct ans:TRUE
What information should form the basis of a golf shop's 12-month budget? - correct ans:Forecasts and
assumptions in the business plan
Assumptions are necessary for forecasting numbers. - correct ans:TRUE
Which of the following events would cause a change in the forecast for golf shop expenses? - correct
ans:Increase in utility rates
What is the baseline reason for analyzing variances? - correct ans:Monitor performance
Which of the following is an example of a performance metric? - correct ans:Number of rounds
What method do managers use to increase their knowledge of financial performance and controls? -
correct ans:Spot audits
Which of the following is a core skill? - correct ans:Customer Service
A career lattice characterizes an upward career progression. - correct ans:FALSE
comprehensive questions and well
elaborated correct answers graded A+
Professional Academic Assistance Service
Services Offered
Proctored Exam Assistance
Online Class Management (Full Course Support)
Exam Preparation & Study Materials
Assignments and Coursework Support
Essays and Research Papers
Discussion Posts and Replies
Contact Information
Email:
WhatsApp: +254705994759
,You are in the process of completing a business plan for the golf shop. Initial forecasts of sales,
expenses, and profit have been made. Past data has been analyzed and important inside and outside
factors have been identified. What is the next step to be taken towards completing the plan? - correct
ans:Make assumptions about how inside and outside factors will affect the business.
"Jason Du Pre is purchasing the Fallen Oaks Golf Course. The business plan he presented to his banker
included his history of successfully operating similar facilities, budget projections for the first five years
under his management, and objectives and strategies for reaching his goals. The banker rejected his
loan application because of missing information. What important element is missing from Du Pre's
business plan?" - correct ans:Proposed mission statement
The process for developing a business plan starts before you establish the goals you would like to
achieve for the shop's coming year. - correct ans:TRUE
A vision defines the short-term objectives that must be accomplished in the upcoming year. - correct
ans:FALSE
What is the process called when the manager reviews total rounds to determine who is playing and
when? - correct ans:Yield Analysis
Mission statements should include a definition of the facility's underlying financial model. - correct
ans:FALSE
Which of the following would be considered internal data for planning purposes? - correct ans:Prior
year's budget
What should govern the decision to pursue an opportunity? - correct ans:Meets organizational goals and
objectives
Which of the following is an example of a weakness that a SWOT analysis might disclose? - correct
ans:No mission statement
The interpretation of quantitative data is less susceptible to differences of opinion than qualitative data.
- correct ans:TRUE
,The utility of your business plan for managing day-to-day operations in a golf shop depends on your
ability to manage internal factors. - correct ans:TRUE
Which of the following is an example of qualitative data? - correct ans:Feedback about pace of play
Consider the following statement as part of a business plan: "Increase range profits by 20% by the end
of the next fiscal year." According to the Business Planning course, this statement would best be
classified as an objective. - correct ans:TRUE
Which characteristic of goals and objectives is described as capable of being observed, recorded, and
measured? - correct ans:Specific
The following agenda was part of a golf range business plan: "Purchase 250 dozen new range balls and
rotate usage three times a year. Who: Head Professional. When: By February 15. Cost: $2100."
According to the Business planning course, which of the following describes the business plan
component represented by this statement? - correct ans:Strategy
Which of the following would be considered a complete objective? - correct ans:Increase rounds by 10%
in the next year
Which action would be the most appropriate facility response when income fails to meet expectations? -
correct ans:Increase the number of rounds through better promotions
A cash flow budget is primarily concerned with what measure? - correct ans:Money on hand at the end
of the period
Consider the following table. Based on trend analysis, what forecast would be made on the number of
weekend rounds that will be played in year five? - correct ans:They will increase.
Which of the following is one of the techniques is used to validate assumptions? - correct ans:Expert
Review
, What is the formula for Merchandise Net Operating Income? - correct ans:Revenue - (Cost of Goods +
Operating Expenses)
A long-term golf shop employee is being replaced by an assistant who will receive higher compensation.
Which would be the most reasonable assumption given this situation? - correct ans:Increased sales will
offset higher expenses.
Sales staff labor is included in the cost of goods. - correct ans:FALSE
Conducting a base year analysis is a good choice for a facility that has just completed a project that
added nine new holes to the original 9-hole course. - correct ans:TRUE
What information should form the basis of a golf shop's 12-month budget? - correct ans:Forecasts and
assumptions in the business plan
Assumptions are necessary for forecasting numbers. - correct ans:TRUE
Which of the following events would cause a change in the forecast for golf shop expenses? - correct
ans:Increase in utility rates
What is the baseline reason for analyzing variances? - correct ans:Monitor performance
Which of the following is an example of a performance metric? - correct ans:Number of rounds
What method do managers use to increase their knowledge of financial performance and controls? -
correct ans:Spot audits
Which of the following is a core skill? - correct ans:Customer Service
A career lattice characterizes an upward career progression. - correct ans:FALSE
