REVENUE MANAGEMENT FINAL EXAM
REVENUE MANAGEMENT FINAL EXAM QUESTIONS AND ANSWERS GRADED A+
what is the industry term used to describe the sum of prices paid by a business's
customers?
-daily receipts
-profit
-profits less expenses
-total revenues - correct answer -total revenues
historically, what concept have hospitality managers chiefly used to calculate their
selling prices?
-income
,REVENUE MANAGEMENT FINAL EXAM
-revenue
-costs
-profits - correct answer -costs
what is an algebraic equivalent of the formula: sales=costs+profit?
-profit=sales-costs
-costs=sales+profits
-costs=profit-sales
-profit=costs-sales - correct answer -profit=sales-costs
what is the name for the net value achieved by both parties in a business
transactions?
-revenue
-profit
-income
,REVENUE MANAGEMENT FINAL EXAM
-expense - correct answer -profit
what element is not present in a barter economy?
-product exchange
-money
-profit
-sellers - correct answer -money
what is the formula used to calculate an owner's ROI?
-owner's original investment/owner's investment return=owner's return on
investment
-owner's investment return/owner's return=owner's return on investment
-owner's return on investment/owner's original investment=owner's return on
investment
-owner's investment return/owner's original investment=owner's return on
investment - correct answer owner's investment return/owner's original
investment=owner's return on investment
, REVENUE MANAGEMENT FINAL EXAM
Sandy has 100 hotel rooms to sell. This Saturday night has enough customers to
sell 125 rooms so she will be refusing 25 requests for rooms. What is this an
example of?
-distribution channels
-differential pricing
-constrained supply
-yield management - correct answer -constrained supply
which industry was the first to use yield management principles?
-lodging
-food service
-airline
-catering - correct answer -airline
what is the industry term used to describe the selling of rooms which are not
actually available to sale?
REVENUE MANAGEMENT FINAL EXAM QUESTIONS AND ANSWERS GRADED A+
what is the industry term used to describe the sum of prices paid by a business's
customers?
-daily receipts
-profit
-profits less expenses
-total revenues - correct answer -total revenues
historically, what concept have hospitality managers chiefly used to calculate their
selling prices?
-income
,REVENUE MANAGEMENT FINAL EXAM
-revenue
-costs
-profits - correct answer -costs
what is an algebraic equivalent of the formula: sales=costs+profit?
-profit=sales-costs
-costs=sales+profits
-costs=profit-sales
-profit=costs-sales - correct answer -profit=sales-costs
what is the name for the net value achieved by both parties in a business
transactions?
-revenue
-profit
-income
,REVENUE MANAGEMENT FINAL EXAM
-expense - correct answer -profit
what element is not present in a barter economy?
-product exchange
-money
-profit
-sellers - correct answer -money
what is the formula used to calculate an owner's ROI?
-owner's original investment/owner's investment return=owner's return on
investment
-owner's investment return/owner's return=owner's return on investment
-owner's return on investment/owner's original investment=owner's return on
investment
-owner's investment return/owner's original investment=owner's return on
investment - correct answer owner's investment return/owner's original
investment=owner's return on investment
, REVENUE MANAGEMENT FINAL EXAM
Sandy has 100 hotel rooms to sell. This Saturday night has enough customers to
sell 125 rooms so she will be refusing 25 requests for rooms. What is this an
example of?
-distribution channels
-differential pricing
-constrained supply
-yield management - correct answer -constrained supply
which industry was the first to use yield management principles?
-lodging
-food service
-airline
-catering - correct answer -airline
what is the industry term used to describe the selling of rooms which are not
actually available to sale?
