Question 1

According to the authors, psychology and emotion play a significant role in the hotel guest's decision process.

Accepted Answer

A) True 
 B)False  True

Question 2

According to the article, other titles associated with the chief financial officer of lodging operations includes:

Accepted Answer

A)  Controller 
B)  Chief accounting officer 
C)  Vice president of accounting 
D)  All of the above 
E)  Only a and c 
A)  Controller 
B)  Chief accounting officer 
C)  Vice president of accounting 
D)  All of the above 
E)  Only a and c D

Question 3

Data-mining technology provides useful information about market segments not found in the company's databases.

Accepted Answer

A) True 
 B)False  False

Question 4

About 1/3 of the respondents in the study try to hold food, beverage, and labor costs within the range of ____ to _____ percent of the budgeted amount.

Accepted Answer

A)  0 to 1 
B)  1 to 2 
C)  2 to 3 
D)  3 to 4 
E)  None of the above 
A)  0 to 1 
B)  1 to 2 
C)  2 to 3 
D)  3 to 4 
E)  None of the above

Question 5

According to previous research, the lodging controller has evolved into a full-fledged member of the management team of a lodging property.

Accepted Answer

A) True 
 B)False

Question 6

In all of the five studies included in this article, what was the most common degree found among the lodging financial executives?

Accepted Answer

A)  High school diploma 
B)  2-year college degree 
C)  4-year college degree 
D)  Graduate school 
E)  None of the above 
A)  High school diploma 
B)  2-year college degree 
C)  4-year college degree 
D)  Graduate school 
E)  None of the above

Question 7

According to the article, at the beginning of the 21st century, it appears that lodging executives' median salaries are most likely to be greater than __________.

Accepted Answer

A)  $30,000 
B)  $35,000 
C)  $40,000 
D)  $45,000 
E)  $50,000 
A)  $30,000 
B)  $35,000 
C)  $40,000 
D)  $45,000 
E)  $50,000

Question 8

In the role of an) ______________, the controller provides information and recommendations to every department in the hotel.

Accepted Answer

A)  Administrator 
B)  Adviser 
C)  Technician 
D)  Educator 
E)  Mentor 
A)  Administrator 
B)  Adviser 
C)  Technician 
D)  Educator 
E)  Mentor

Question 9

When asked to give one major reason why an operations budget is prepared for a hotel, 45% of the respondents in the study selected the option that stated "it is used as a standard by which the lodging operation is managed".

Accepted Answer

A) True 
 B)False

Question 10

The difference between a budget and a forecast is that a forecast alerts owners and operators of significant expenditures, whereas, budgets provide an owner with a projected sales level.

Accepted Answer

A) True 
 B)False

Question 11

In this study, it was found that controller's salary was declining over the years.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following was not one of the top four mentioned leadership secrets that leaders in organizations should possess?

Accepted Answer

A)  Physical stamina 
B)  Dependability 
C)  Credibility 
D)  Responsibility 
E)  Accountability 
A)  Physical stamina 
B)  Dependability 
C)  Credibility 
D)  Responsibility 
E)  Accountability

Question 13

According to the article, in the hotel industry, the most common sources of data are CRSs and PMSs.

Accepted Answer

A) True 
 B)False

Question 14

It is critical that the purchasing manager develops a close working relationship with many managers within a hotel. One of such managers includes the director of rooms, as indicated by the authors.

Accepted Answer

A) True 
 B)False

Question 15

In the role of an) ______________, the controller must have a foundation in the debits and credits of accounting?

Accepted Answer

A)  Administrator 
B)  Adviser 
C)  Technician 
D)  Educator 
E)  Mentor 
A)  Administrator 
B)  Adviser 
C)  Technician 
D)  Educator 
E)  Mentor

Question 16

According to the article, financial forecasts and budgets can strengthen management's control of hotel operating expenses.

Accepted Answer

A) True 
 B)False

Question 17

Some of the least common statistical methods used in data-mining applications are decision trees, neural networks, and genetic algorithms.

Accepted Answer

A) True 
 B)False

Question 18

More than ______ percent of the restaurant and beverage departments appear to favor the use of "number of guests by expected spending per guest" as a method for forecasting department revenues.

Accepted Answer

A)  40 
B)  50 
C)  60 
D)  70 
E)  80 
A)  40 
B)  50 
C)  60 
D)  70 
E)  80

Question 19

According to the lodging financial executive included in this study, "being an expert" was ranked highly as an important key to successful leadership.

Accepted Answer

A) True 
 B)False

Question 20

Information generated by data mining does not account for the fact that approximately ______ percent of human communication is nonverbal.

Accepted Answer

A)  25 
B)  50 
C)  70 
D)  80 
E)  90 
A)  25 
B)  50 
C)  70 
D)  80 
E)  90

According to the authors, psychology and emotion play a significant role in the hotel guest's decision process.

According to the article, other titles associated with the chief financial officer of lodging operations includes:

Data-mining technology provides useful information about market segments not found in the company's databases.

About 1/3 of the respondents in the study try to hold food, beverage, and labor costs within the range of to _ percent of the budgeted amount.

According to previous research, the lodging controller has evolved into a full-fledged member of the management team of a lodging property.

In all of the five studies included in this article, what was the most common degree found among the lodging financial executives?

According to the article, at the beginning of the 21^st century, it appears that lodging executives' median salaries are most likely to be greater than __________.

In the role of an) ______________, the controller provides information and recommendations to every department in the hotel.

When asked to give one major reason why an operations budget is prepared for a hotel, 45% of the respondents in the study selected the option that stated "it is used as a standard by which the lodging operation is managed".

The difference between a budget and a forecast is that a forecast alerts owners and operators of significant expenditures, whereas, budgets provide an owner with a projected sales level.

In this study, it was found that controller's salary was declining over the years.

Which of the following was not one of the top four mentioned leadership secrets that leaders in organizations should possess?

According to the article, in the hotel industry, the most common sources of data are CRSs and PMSs.

It is critical that the purchasing manager develops a close working relationship with many managers within a hotel. One of such managers includes the director of rooms, as indicated by the authors.

In the role of an) ______________, the controller must have a foundation in the debits and credits of accounting?

According to the article, financial forecasts and budgets can strengthen management's control of hotel operating expenses.

Some of the least common statistical methods used in data-mining applications are decision trees, neural networks, and genetic algorithms.

More than ______ percent of the restaurant and beverage departments appear to favor the use of "number of guests by expected spending per guest" as a method for forecasting department revenues.

According to the lodging financial executive included in this study, "being an expert" was ranked highly as an important key to successful leadership.

Information generated by data mining does not account for the fact that approximately ______ percent of human communication is nonverbal.

Overview

Organization

General Managers: a View at the Top

Operations: Rooms

Operations: Housekeeping, Engineering and Security

Food and Beverage Division

Marketing and Associated Activities

Human Resources Policy Management

Filters

Exam 8: Financial Control and Information Management

According to the authors, psychology and emotion play a significant role in the hotel guest's decision process.

According to the article, other titles associated with the chief financial officer of lodging operations includes:

Data-mining technology provides useful information about market segments not found in the company's databases.

About 1/3 of the respondents in the study try to hold food, beverage, and labor costs within the range of ____ to _____ percent of the budgeted amount.

According to previous research, the lodging controller has evolved into a full-fledged member of the management team of a lodging property.

In all of the five studies included in this article, what was the most common degree found among the lodging financial executives?

According to the article, at the beginning of the 21st century, it appears that lodging executives' median salaries are most likely to be greater than __________.

In the role of an) ______________, the controller provides information and recommendations to every department in the hotel.

When asked to give one major reason why an operations budget is prepared for a hotel, 45% of the respondents in the study selected the option that stated "it is used as a standard by which the lodging operation is managed".

The difference between a budget and a forecast is that a forecast alerts owners and operators of significant expenditures, whereas, budgets provide an owner with a projected sales level.

In this study, it was found that controller's salary was declining over the years.

Which of the following was not one of the top four mentioned leadership secrets that leaders in organizations should possess?

According to the article, in the hotel industry, the most common sources of data are CRSs and PMSs.

It is critical that the purchasing manager develops a close working relationship with many managers within a hotel. One of such managers includes the director of rooms, as indicated by the authors.

In the role of an) ______________, the controller must have a foundation in the debits and credits of accounting?

According to the article, financial forecasts and budgets can strengthen management's control of hotel operating expenses.

Some of the least common statistical methods used in data-mining applications are decision trees, neural networks, and genetic algorithms.

More than ______ percent of the restaurant and beverage departments appear to favor the use of "number of guests by expected spending per guest" as a method for forecasting department revenues.

According to the lodging financial executive included in this study, "being an expert" was ranked highly as an important key to successful leadership.

Information generated by data mining does not account for the fact that approximately ______ percent of human communication is nonverbal.

Overview

Organization

General Managers: a View at the Top

Operations: Rooms

Operations: Housekeeping, Engineering and Security

Food and Beverage Division

Marketing and Associated Activities

Human Resources Policy Management

Filters

About 1/3 of the respondents in the study try to hold food, beverage, and labor costs within the range of to _ percent of the budgeted amount.

According to the article, at the beginning of the 21^st century, it appears that lodging executives' median salaries are most likely to be greater than __________.