Inventory value is used to calculate _____________, which in turn is used to calculate gross profit.
a. cost of goods sold
b. purchases
c. cost of goods used internally
d. sales revenue
According to Boeing, which of the following is the most important factor affecting growth in the demand for air travel?
a. declines in the price of air travel.
b. increases in the prices of substitutes for air travel.
c. growth of gross domestic product or national income.
d. growth in the quality of leisure travel and tourism goods and services.
Where were Angostura bitters created?
a. Venezuela
b. Trinidad and Tobago
c. Guyana
d. Spain
e. Cuba
An operation budgeted 8,000 for labor costs. In theactual performance, labor costs were 10,000 . Whatwas the percentage variance in labor costs for theperiod?
a. 20
b. 25
c. 30
d. 35
By the end of 2005 we saw about one-half of the U.S. airline industry
a. growing rapidly in spite of their high costs, as the low-cost carriers began to shrink.
b. in bankruptcy.
c. earning above-normal returns on their invested capital.
d. all of the above.
What two ingredients define a Fizz style cocktail?
a. Lemon and Soda Water
b. Gin and Champagne
c. Lime and Ginger Beer
d. Egg white and Soda Water
e. Tequila and Lime
Which of the following is a policy or practice that endangers the security of a hospitality firm's inventory?
a. A physical inventory is taken only once every five years.
b. The accountant who maintains the inventory records may not access the inventory itself.
c. A daily inventory of high-priced items must be taken.
d. There is a separation between the custody of the inventory records and custody of the inventory.
An operation projected it would serve 10,000 guestsat an average sale per guest of 11 in a specificbudget period. In that period, the operation actuallyserved 11,000 guests and achieved revenue of100,000 .
What was the operation's variance inrevenue for the period? a. 1,000
b. 1,100
c. 10,000
d. 11,000
Video cameras have done little to change the way surveillance is conducted in casinos.
Indicate whether the statement is true or false
An interest-bearing note receivable dated April 14 matures on July 23 . The principal amount is 10,000, the annual interest rate is 10 percent, and the total interest income for the note is _____________.
(Assume that a year has 360 days for the purpose of calculating interest.) a. 273.97
b. 277.78
c. 280
d. 1,000
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