Despite the obvious, many casino professionals fail to understand the basic mathematics of the games and their relationships to casino profitability.
Indicate whether the statement is true or false
Which is not a competitive feature of Outback?
a. open only for dinner
b. using secondary real estate locations
c. limiting number of customers per server
d. limited customer seating space
State the importance of effectively managing a petty cash fund.
What will be an ideal response?
Suppose you managed a theme park. How would you set prices for attendance? Would you have group rates, discount coupons, senior citizen or student discounts, advance purchase discounts, etc.?
What will be an ideal response?
When corporations account for their taxes, they estimate their taxes quarterly and accrue them for payment. In such a transaction, the account Income Tax Expense receives:
a. a credit.
b. a debit.
c. a footnote stating the details of the transaction.
d. none of the above.
The house advantage represents the short run percent of the wagered money that will be retained by the casino.
Indicate whether the statement is true or false
Which is not a common competitive feature of low-cost air carriers?
a. use of primary airport
b. use of a single type of aircraft
c. lowest fare pricing
d. direct city- to- city route
e. web based booking
Which of the following types of business organization is more likely to enter into long-term contracts?
a. corporations
b. partnerships
c. sole proprietorships
d. any of the above
The demand curve in the service industry is:
a. local in nature.
b. very temporal.
c. not influenced as much by macro features.
d. different from that in the durable goods business.
e. all of the above.
How does the U.S. Coast Guard's regulate the cruise ship industry?
a. It helps make the cruise line industry more competitive.
b. It ensures that cruise lines properly handle passengers= deposits and advance payments.
c. It ensures compliance with the Safety of Life at Sea Convention by cruise ships operating out of U.S. ports.
d. It inspects cruise ships operating out of U.S. ports to see that they meet sanitation standards.
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