Hospitality Revenue Management FINAL
2025/2026 Exam Questions and Verified
1
Answers | Already Graded A+
The primary purpose of accounting is to report on an organization's? - 🧠
ANSWER ✔✔money and valuable property.
When does accounting for a business begin? - 🧠 ANSWER ✔✔Before the
business opens
The best definition of an accountant is a person who - 🧠 ANSWER ✔✔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? - 🧠
ANSWER ✔✔State
Which branch of accounting concerns itself with the independent
verification of financial records? - 🧠 ANSWER ✔✔Auditing
Items owned by a business are referred to as - 🧠 ANSWER ✔✔assets
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
,Which is the primary concern of financial accounting? - 🧠 ANSWER
✔✔Recording financial transactions
2
Which is a question that could NOT be best answered strictly on the basis
of accounting data? - 🧠 ANSWER ✔✔Which current bartender should we
promote to Head Bartender?
Assets = Liabilities + Owners? Equity, is referred to as the - 🧠 ANSWER
✔✔basic accounting equation.
When properly used, accounting helps hospitality managers - 🧠 ANSWER
✔✔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 - 🧠 ANSWER
✔✔Matching Principle.
Which is the accounting summary that presents the financial condition, or
financial health, of a business? - 🧠 ANSWER ✔✔Balance Sheet
In the hospitality industry, a point of sale (POS) system is used to record - 🧠
ANSWER ✔✔guest sales, payments and other information.
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, Which portion of a hospitality business?s transaction and analysis process
would most often by undertaken by the business?s owner or general
3
manager? - 🧠 ANSWER ✔✔Financial analysis
Which is the basic accounting equation that is applicable to every
business? - 🧠 ANSWER ✔✔Assets = Liabilities + Owners' Equity
Which is the foundation of accurate financial reporting and analysis? - 🧠
ANSWER ✔✔Bookkeeping
In the hospitality industry, a property management system (PMS) is used to
record - 🧠 ANSWER ✔✔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? - 🧠 ANSWER ✔✔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? - 🧠 ANSWER ✔✔Account
A restaurant owner who takes home steaks for grilling at a private party she
is hosting for her friends, without properly reflecting this in the restaurant's
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
2025/2026 Exam Questions and Verified
1
Answers | Already Graded A+
The primary purpose of accounting is to report on an organization's? - 🧠
ANSWER ✔✔money and valuable property.
When does accounting for a business begin? - 🧠 ANSWER ✔✔Before the
business opens
The best definition of an accountant is a person who - 🧠 ANSWER ✔✔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? - 🧠
ANSWER ✔✔State
Which branch of accounting concerns itself with the independent
verification of financial records? - 🧠 ANSWER ✔✔Auditing
Items owned by a business are referred to as - 🧠 ANSWER ✔✔assets
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
,Which is the primary concern of financial accounting? - 🧠 ANSWER
✔✔Recording financial transactions
2
Which is a question that could NOT be best answered strictly on the basis
of accounting data? - 🧠 ANSWER ✔✔Which current bartender should we
promote to Head Bartender?
Assets = Liabilities + Owners? Equity, is referred to as the - 🧠 ANSWER
✔✔basic accounting equation.
When properly used, accounting helps hospitality managers - 🧠 ANSWER
✔✔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 - 🧠 ANSWER
✔✔Matching Principle.
Which is the accounting summary that presents the financial condition, or
financial health, of a business? - 🧠 ANSWER ✔✔Balance Sheet
In the hospitality industry, a point of sale (POS) system is used to record - 🧠
ANSWER ✔✔guest sales, payments and other information.
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, Which portion of a hospitality business?s transaction and analysis process
would most often by undertaken by the business?s owner or general
3
manager? - 🧠 ANSWER ✔✔Financial analysis
Which is the basic accounting equation that is applicable to every
business? - 🧠 ANSWER ✔✔Assets = Liabilities + Owners' Equity
Which is the foundation of accurate financial reporting and analysis? - 🧠
ANSWER ✔✔Bookkeeping
In the hospitality industry, a property management system (PMS) is used to
record - 🧠 ANSWER ✔✔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? - 🧠 ANSWER ✔✔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? - 🧠 ANSWER ✔✔Account
A restaurant owner who takes home steaks for grilling at a private party she
is hosting for her friends, without properly reflecting this in the restaurant's
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
