What is the basis for determination of an employee's exempt status?
a. Specified level of pay and job duties of supervisor/management
b. Employee elects to exempt themselves on W-2 form
c. Tips must bring total shift wages to minimum or higher
d. Hours over 40 must be paid overtime of one and a half hourly
A meeting planner made a deposit with a hotel to reserve exhibit space and the hotel has hosted the meeting. Now that the meeting has taken place, accountants should make an adjustment:
a. in which previously recorded assets become expenses.
b. in which previously recorded liabilities become revenue.
c. to record assets and revenues not previously provided.
d. to record liabilities and expenses not previously recorded.
When customers start spending money on gambling, they will stop spending it on something else. This is known as:
a. export earnings
b. displacement
c. replacement
d. import substitutions
e. import earnings
As the Director of Catering, what kinds of goals might you set for the upcoming year based on your department's performance this year?
What will be an ideal response?
Food and beverages consumed on holiday could be instrumental in achieving all of the following goals except ..
a) relaxation
b) excitement
c) self-respect
d) status
e) escapism
There are times when it is appropriate to engage disputes with customers online
a. True
b. False
What is the price a gambler pays to play?
What will be an ideal response?
Which of the following statements about accrual basis accounting is true?
a. Accrual basis accounting is reflected on the statement of cash flows.
b. Accrual basis accounting is used only by small hospitality businesses.
c. Accrual basis accounting allows a business to show greater profits than cash basis accounting.
d. Accrual basis accounting generally requires that several adjusting entries be recorded at the end of the accounting period.
What is considered the Achilles heel of the whole gambling industry?
a. crime
b. money laundering
c. problem gambling
d. over-expansion
e. high taxes
What is the business type used to create an entity that has a legal identity separate from its owners?
a. Sole proprietorship
b. Partnership
c. Corporation
d. Shareholder
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