Hospitality unit 2 Study guides, Revision notes & Summaries
Looking for the best study guides, study notes and summaries about Hospitality unit 2? On this page you'll find 69 study documents about Hospitality unit 2.
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AHLEI Exam QUESTIONS AND ANSWERS 2023
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AHLEI Exam Q&A Solved 100% 
correct QUESTIONS AND 
ANSWERS 2023 
Account receivable system - ANSWER a system to account for revenue that is due. has 
been earned but not yet collected 
Accrual accounting system - ANSWER An accounting system that matches revenue 
generated with the expenses incurred to generate the revenue 
Commercial food service operations - ANSWER Food service operations found in 
lodging properties, clubs, restaurants, and other businesses. These operations exist to 
make a p...
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LEED BD+C AP Exam 2024 Updated Questions And Advanced Correct Answers.
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(MR Credit) Building Product Disclosure and Optimization- Environmental Product Declarations - Opt. 2 Multi-Attribute Optimization. Exemplary Performance requirements? - correct answer Option 1. Source at least 40 qualifying products from five manufacturers. 
Option 2. Purchase 75%, by cost, of permanently installed building products that meet the required attributes 
 
What must be true of EPDs to qualify for MR Credit Building Product Disclosure and Optimization EPD? - correct...
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CIPS L4M1 - Question & Answer Past exam questions latest 2023/2023
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CIPS L4M1 - Question & Answer Past exam questions latest 2023/2023 
 
O1. Outline FIVE differences between purchasing goods and purchasing services. 
1. Goods are tangible, services are intangible: 
2. Services cannot be separated from their supplier: 
3. Heterogeneity: goods are usually uniform in nature while services are unique at each delivery 
4. Services 'perish' immediately on delivery whereas goods can be stored until required 
5. Products are easier to specify, being tangible 
O2. Exp...
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HM 441 Exam #1|65 Questions with Answer 2023,100% CORRECT
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HM 441 Exam #1|65 Questions with Answer 2023 
 
 
Product, Customer, Time, Price - CORRECT ANSWER Revenue management is selling the right _______ to the right _________ at the right ________ for the right ________ 
 
Revenue/Yield Management - CORRECT ANSWER Maximize revenue by optimizing capacity, rates and prices and distribution under current and future demand/supply MARKET condition 
 
Demand Forecasting - CORRECT ANSWER The most important revenue management feature is 
 
They have informati...
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SAE TEXAS EXAM- Property Management Questions and Answers 2023 Answered 100%
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SAE TEXAS EXAM- Property Management Questions and Answers 2023 Answered 100% 
 
Which statement is correct? *ANS* A. Property mgmt & real estate brokerage are the same thing 
B. All real estate brokers in Texas must allow sponsored agents to perform property mgmt activities 
*C. Some real estate brokers do not allow property mgmt activities by their sponsored agents 
D. Property mgmt is not considered a real estate brokerage activity in Texas 
 
In Texas, agents need to be __________ in order to...
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HM 441 Chapter1,3,4,5 & 9 Questions with Answers 2023,100% CORRECT
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HM 441 Chapter1,3,4,5 & 9 Questions with Answers 2023 
 
 
Ch.1 Group Assignment Q's HM 441 
 
The 3 major decisions of financial management involve - CORRECT ANSWER investing, financing, and payment of dividends 
 
Value is created if a projects - CORRECT ANSWER incremental benefits exceed incremental costs 
 
Disadvantage of the corporate form of organization - CORRECT ANSWER the tax treatment of dividends 
 
Difficulty in forming a Subchapter S Corporation - CORRECT ANSWER there can be no mo...
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Revenue Management Exam 1 Solved 100%
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Room Night - ANSWER The single night's use of a guest room 
EX: 1 room sold for 3 consecutive nights yields three room nights 
 
reference price - ANSWER the price perceived by consumers to be the normal price for a product of service 
 
Hard constraint - ANSWER a supply constraint that cannot be removed regardless of product demand 
EX: natural gas pipelines, number of hotel rooms 
 
soft constraint - ANSWER a supply constraint that can, with sufficient lead time, and/ or a reasonable expense...
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Hospitality Revenue Management final exam review Question & Answers
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Hospitality Revenue Management final exam review Question & Answers 
 
 
What is the industry term used to describe the sum of prices paid by a business's customers? - Correct answer total revenues" 
 
"Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Correct answer costs" 
 
"What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Correct answer profit=sales-costs" 
 
"What is the name for the net value achieved by b...
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Revenue Management Final Exam Questions with Correct and Verified Answers
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Revenue Management Final Exam Questions with Correct and Verified Answers 
 
 
Revenue - Correct answer The total amount of sales achieved in a specified time period" 
 
"Revenue is calculate as: - Correct answer Number of Units Sold x Unit Price" 
 
"Effective managers of an organization's revenues MUST do three things - Correct answer 1. Understand the importance of revenue management 
2. Understand the many complex factors that influence revenue management strategy and tactics 
3. Beco...
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SAE ASSESSMENT REVIEW- Champion Property Management 2023 Rated 100%
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SAE ASSESSMENT REVIEW- Champion Property Management 2023 Rated 100% 
 
police power --- The right of governments to control land use 
 
Fiduciary --- requires duties of obedience, loyalty, disclosure, confidentiality, accounting, and reasonable care 
 
variance --- permission to violate the rules 
 
building code --- dictates the minimum legally acceptable standards by which a building can be constructed 
 
Zoning --- determines for what purposes certain parcels of land that can be used 
 
prope...