HM 280 Exam 2 questions well answered
to pass
director of finance - correct answer ✔✔the person in the hotel responsible for all accounting
and finance functions
monthly budgets - correct answer ✔✔helps determine whether a business is maintain progress
toward the goals developed in its annual budget
forecasts include projections of... - correct answer ✔✔revenues and expenses
audit - correct answer ✔✔the individual conducting independent verification of financial
records
centralized accounting system - correct answer ✔✔a financial management system act collects
accounting data from an individual hotel then combines and analyzes the data at a different site
decentralized accounting system - correct answer ✔✔a financial management system that
collects accounting data from an individual hotel site and combines and analyzes the data at the
same site
front office accounting - correct answer ✔✔the process of summarizing and reporting financial
transactions occurring at the front desk
back office accounting - correct answer ✔✔the process of summarizing and documenting the
financial activity of the entire hotel
, controller - correct answer ✔✔an individual responsible for maintaining the back office
accounting system
certified public accountant - correct answer ✔✔a professional designation given to an
individual who has passed a qualifying examination to accounting practices and principles
revenue manager - correct answer ✔✔a hotel's revenue manager is responsible for optimizing
room revenues through effective guest room pricing and inventory management
revenue management - correct answer ✔✔a demand forecasting system designed to maximize
revenue by holding rates high during times of high room demand and by discounting room rates
during times of lower guest room demand
length of stay - correct answer ✔✔the number of nights a hotel's individual guests use their
rooms
minimum length of stay - correct answer ✔✔a hotel requires guest who seek a room to stay for
a designated minimum number of nights
closed to arrival - correct answer ✔✔a hotel declines reservations for guests attempting to
arrive on this specific date
who works together with the RM to establish room rate positioning - correct answer ✔✔GMs,
FOMs, DOSMs
"markets set rates" - correct answer ✔✔RMS manage rates and inventory to maximum revenue
bottom up selling - correct answer ✔✔a tactic used to sell a hotel's least expensive rooms first
or start with a low rate position
to pass
director of finance - correct answer ✔✔the person in the hotel responsible for all accounting
and finance functions
monthly budgets - correct answer ✔✔helps determine whether a business is maintain progress
toward the goals developed in its annual budget
forecasts include projections of... - correct answer ✔✔revenues and expenses
audit - correct answer ✔✔the individual conducting independent verification of financial
records
centralized accounting system - correct answer ✔✔a financial management system act collects
accounting data from an individual hotel then combines and analyzes the data at a different site
decentralized accounting system - correct answer ✔✔a financial management system that
collects accounting data from an individual hotel site and combines and analyzes the data at the
same site
front office accounting - correct answer ✔✔the process of summarizing and reporting financial
transactions occurring at the front desk
back office accounting - correct answer ✔✔the process of summarizing and documenting the
financial activity of the entire hotel
, controller - correct answer ✔✔an individual responsible for maintaining the back office
accounting system
certified public accountant - correct answer ✔✔a professional designation given to an
individual who has passed a qualifying examination to accounting practices and principles
revenue manager - correct answer ✔✔a hotel's revenue manager is responsible for optimizing
room revenues through effective guest room pricing and inventory management
revenue management - correct answer ✔✔a demand forecasting system designed to maximize
revenue by holding rates high during times of high room demand and by discounting room rates
during times of lower guest room demand
length of stay - correct answer ✔✔the number of nights a hotel's individual guests use their
rooms
minimum length of stay - correct answer ✔✔a hotel requires guest who seek a room to stay for
a designated minimum number of nights
closed to arrival - correct answer ✔✔a hotel declines reservations for guests attempting to
arrive on this specific date
who works together with the RM to establish room rate positioning - correct answer ✔✔GMs,
FOMs, DOSMs
"markets set rates" - correct answer ✔✔RMS manage rates and inventory to maximum revenue
bottom up selling - correct answer ✔✔a tactic used to sell a hotel's least expensive rooms first
or start with a low rate position
