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Finance and Revenue Management Ch. 1-4,6 Test 1 Questions With 100% Correct Answers

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What is the industry term used to describe the sum of prices paid by a business's customers? - ANSWER-Total revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - ANSWER-Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - ANSWER-Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - ANSWER-Profit What element is not present in a barter economy? - ANSWER-Money What is the formula used to calculate an owner's ROI? - ANSWER-Owner's Investment Return / Owner's Original Investment = Owner's Return on Investment

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  • finance and revenue management ch 1 46 test 1 qu
  • finance and revenue management ch 1 46 stuvia
  • what is the industry term used to describe the sum
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