A hospitality business uses a cash receipts journal to record:
a. guest payments on account.
b. sales of capital stock.
c. purchases of suppliers' goods and services.
d. all of the above.
All of the following statements about refreshment centers are accurate, EXCEPT
a. Attendants servicing honor bars need to review daily reports produced by front desk
b. Honor bar charges should be posted as soon as possible
c. Management has full control over automatic bar systems from a remote location
d. If semi-automatic bars are used, all refrigerators need to be inspected daily
e. To reduce honor bar disputes an incentive program for the attendants should be in place.
Input-output analysis allows researchers to break down the economic impact of tourism by sector or industry.
Indicate whether the statement is true or false
At what stage in the bill payment process do managerscode invoices?
a. Prior to invoice approval
b. Prior to invoice payment
c. Prior to receiving the invoice
d. Prior to receiving a statement of account
The role of the posting reference column(s) in any specialized journal is to help accounting staff make sure they:
a. post the entry to a ledger.
b. post the entry to the general journal.
c. make the entry's debits equal to its credits.
d. close the specialized journal to the general journal after each entry.
Which of the following is NOT true regarding private bar procedures?
a. Honor bars are to inspected daily
b. Private bar charges may posted by front desk agents
c. Only semi-automatic bars with opened doors need to be serviced
d. A door opening alert system allows management to see from a remote location if the semi-automatic bar's door was opened
e. Most advanced automatic bar systems allow attendants to post charges with palm held computer devices
Hedonic motives include:
a. negative reinforcement
b. self esteem enhancement
c. risk taking
d. utility of wealth
e. all of the above
The fundamental problem with externalities is that consumers and producers do not have well defined and well enforced property rights over all of the things they care about.
Indicate whether the statement is true or false
Debits would always be recorded in which of the following sections of a cash receipts journal?
a. Other Accounts
b. Sales
c. Cash
d. Accounts Receivable
What would be the result of errors made in invoicecoding?
a. Total operating expenses are overestimated.
b. Total operating expenses are underestimated.
c. Expenses are assigned to the wrong costcategories.
d. Expense payments are assigned to the wrongaccounting period.
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