In a large hotel property utilizing a decentralized accounting system the hotel's controller is likely to be a
A) CHA.
B) CPA.
C) CFBE.
D) USAL.
What is the fundamental purpose of the Sarbanes-Oxley Act?
A) Reward innovation in accounting.
B) Standardize accounting procedures.
C) Standardize bookkeeping procedures.
D) Penalize fraudulent accounting practices.
Which activity is a bookkeeping activity?
A) Calculate month-to-date ADR
B) Record the sale of a guest room
C) Assemble monthly P&L statements
D) Assess hotel cash flow from investing activities
Who would most often decide if a hotel used a centralized or a decentralized accounting system?
A) Hotel GM
B) Hotel owner
C) Hotel controller
D) Hotel brand managers
Which property would most likely use a decentralized accounting system?
A) A single hotel owned and operated by a single individual
B) A hotel owned and operated by a single individual who owns 20 hotels
C) A hotel owned and operated by a real estate company that owns and operates 20 hotels
D) A hotel owned and operated by a franchise company that owns and operates 20 of its own hotels
What is the primary purpose of a hotel controller?
A) Serve as the chairperson of the EOC.
B) Advise the GM on pricing decisions.
C) Manage the hotel's payroll and benefits costs.
D) Oversee bookkeeping and accounting functions.
What is the name of the accounting procedures suggested for use in the hotel industry?
A) USR
B) USL
C) USAR
D) USALI
What is the purpose of GAAP?
A) Increase profits
B) Reduce expenses
C) Ensure uniformity
D) Provide flexibility
The bookkeeping and accounting tasks performed in a hotel's front office are considered
A) property accounting.
B) back-office accounting.
C) front-office accounting.
D) managerial accounting.
What is the purpose of bookkeeping?
A) Record financial transactions
B) Analyze financial transactions
C) Record monthly financial statements
D) Analyze monthly financial statements
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