MICE stands for meetings, incentives, corporations, and exhibitions.
Indicate whether the statement is true or false
According to FASB criteria, a bargain purchase price is a price so low that it virtually ensures that the lessee will buy the property.
Indicate whether the statement is true or false
The Orange Inn had 200,000 of beverage sales and a beverage cost of sales percentage of 20 for the month.
If its average beverage inventory totals 20,000, what is its beverage inventory turnover? How many days' supply of beverage inventory is on hand at the end of the month? (Assume a 30 day month.)
A) 2 times; 15 days
B) 3 times; 10 days
C) 2 times; 10 days
D) 3 times; 15 days
E) 2 times; cannot be determined
The majority of new hotel properties being built today are being constructed:
A) with enhanced employee foodservice area to attract new staff members.
B) with large banquet facilities.
C) with little or no foodservice facilities.
D) with extensive foodservice facilities.
The first step in beginning to formalize organized thoughts about a potential position is to ask the following question:
A) What work best relates to my education? B) What are my personal interests?
C) How much money can I make? D) How hard will the work be?
Which of the following elevator safety tests must be performed every 5 years?
A) partial-load safety test B) no-load safety test
C) full-load safety test D) None of the above
Knowing buy times of different customer segments helps a hotel manage it's inventory properly.
Indicate whether the statement is true or false
A non-cancelable lease must be classified as a capital lease if the lease term is equal to 67 or more of the estimated economic life of the leased property.
Indicate whether the statement is true or false
The Green Palace has food inventory of 50,000 and 40,000 at the beginning and end of the year respectively. Its cost of food sold totaled 900,000 for the year while employee meals equaled 10,000.
Its food inventory turnover for the year was ________ times.
A) 20
B) 22.5
C) 22.8
D) 20.2
E) none of the above
When selecting the area of work, which step should be first considered?
A) The process of selecting the area of work is not necessarily sequential.
B) The industry segment
C) Industry
D) The industry organization
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