Hospitality Revenue Management / 174 Quizzes with Certified Ans Revenue
management is the act of directing sources of income within the confines of -
Answer: capacity, supply and demand GOPPAR takes into account which of
the following variables that is
The primary purpose of accounting is to report on an organization's? - (answers)money and
valuable property.
When does accounting for a business begin? - (answers)Before the business opens
The best definition of an accountant is a person who - (answers)is skilled in the recording and
reporting of financial transactions.
Which governmental entity establishes standards, and then awards qualified individuals the
Certified Public Accountant (CPA) designation? - (answers)State
Which branch of accounting concerns itself with the independent verification of financial
records? - (answers)Auditing
Items owned by a business are referred to as - (answers)assets
Which is the primary concern of financial accounting? - (answers)Recording financial
transactions
Which is a question that could NOT be best answered strictly on the basis of accounting data? -
(answers)Which current bartender should we promote to Head Bartender?
Assets = Liabilities + Owners? Equity, is referred to as the - (answers)basic accounting equation.
, When properly used, accounting helps hospitality managers - (answers)make better decisions.
A restaurant owner records his purchases of food and beverage as an expense when they are
purchased, and who does not record end of accounting period inventory values is violating the -
(answers)Matching Principle.
Which is the accounting summary that presents the financial condition, or financial health, of a
business? - (answers)Balance Sheet
In the hospitality industry, a point of sale (POS) system is used to record - (answers)guest sales,
payments and other information.
Which portion of a hospitality business?s transaction and analysis process would most often by
undertaken by the business?s owner or general manager? - (answers)Financial analysis
Which is the basic accounting equation that is applicable to every business? - (answers)Assets =
Liabilities + Owners' Equity
Which is the foundation of accurate financial reporting and analysis? - (answers)Bookkeeping
In the hospitality industry, a property management system (PMS) is used to record -
(answers)customer transactions that take place at a hotel's front desk.
Which would be the first action to occur in a hospitality business?s transaction recording and
analysis process? - (answers)Guest purchase
What is the primary device that accountants use to record increases or decreases in the assets,
liabilities or owners? equity portion of a business?s basic accounting equation? -
(answers)Account
management is the act of directing sources of income within the confines of -
Answer: capacity, supply and demand GOPPAR takes into account which of
the following variables that is
The primary purpose of accounting is to report on an organization's? - (answers)money and
valuable property.
When does accounting for a business begin? - (answers)Before the business opens
The best definition of an accountant is a person who - (answers)is skilled in the recording and
reporting of financial transactions.
Which governmental entity establishes standards, and then awards qualified individuals the
Certified Public Accountant (CPA) designation? - (answers)State
Which branch of accounting concerns itself with the independent verification of financial
records? - (answers)Auditing
Items owned by a business are referred to as - (answers)assets
Which is the primary concern of financial accounting? - (answers)Recording financial
transactions
Which is a question that could NOT be best answered strictly on the basis of accounting data? -
(answers)Which current bartender should we promote to Head Bartender?
Assets = Liabilities + Owners? Equity, is referred to as the - (answers)basic accounting equation.
, When properly used, accounting helps hospitality managers - (answers)make better decisions.
A restaurant owner records his purchases of food and beverage as an expense when they are
purchased, and who does not record end of accounting period inventory values is violating the -
(answers)Matching Principle.
Which is the accounting summary that presents the financial condition, or financial health, of a
business? - (answers)Balance Sheet
In the hospitality industry, a point of sale (POS) system is used to record - (answers)guest sales,
payments and other information.
Which portion of a hospitality business?s transaction and analysis process would most often by
undertaken by the business?s owner or general manager? - (answers)Financial analysis
Which is the basic accounting equation that is applicable to every business? - (answers)Assets =
Liabilities + Owners' Equity
Which is the foundation of accurate financial reporting and analysis? - (answers)Bookkeeping
In the hospitality industry, a property management system (PMS) is used to record -
(answers)customer transactions that take place at a hotel's front desk.
Which would be the first action to occur in a hospitality business?s transaction recording and
analysis process? - (answers)Guest purchase
What is the primary device that accountants use to record increases or decreases in the assets,
liabilities or owners? equity portion of a business?s basic accounting equation? -
(answers)Account
