The U.S. tourism industry is one of the top ten largest industries in
A) 50 of the 50 states.
B) 49 of the 50 states.
C) 40 of the 50 states.
D) 39 of the 50 states.
Which type of hotel is typically operated out of a converted home?
A) Hostel
B) Full-service
C) Select-service
D) Bed and Breakfast
An ala carte menu is one in which the menu items offered are individually
A) described.
B) portioned.
C) served.
D) priced.
Which type of lodging operation offers its guests sleeping rooms, meeting space and complete food and beverage services?
A) Select-service
B) Full-service
C) Limited-service
D) Hostel
Which segment of the tourism industry includes lodging operations?
A) Hospitality
B) Retail
C) Transportation
D) Destination sites
A resort depreciates its fairway mower for tax purposes over five years using the straight-line method and the half-year conversion. The mower purchased on April 1, 20X1 cost 30,000. Assume a zero salvage value.
The net book value of the mower at December 31, 20X3 is ________.
A) 18,000 B) 15,000 C) 12,000 D) none of the above
Assume the corporate and individual tax rates are 40 and 30, respectively. If a corporation's 100,000 is first taxed and the remainder is distributed to its stockholder who are then taxed, what are the total taxes paid on the 100,000?
A) 30,000 B) 58,000 C) 40,000 D) none of the above
Limited liability for a limited partnership is afforded to
A) general partners B) limited partners
C) controlling partners D) restricted partners
The major advantage of a sole proprietorship type of business organization is
A) continuity of business assured at the death of the owner
B) ease of raising capital
C) avoidance of double taxation
D) limited liability
A capital gain is considered to be long-term if stock was held for
A) less than one year B) more than one year
C) more than six months D) length of time is not a factor
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