Question 1

Who would most often decide if a hotel used a centralized or a decentralized accounting system?

Accepted Answer

A)  Hotel GM 
B)  Hotel owner 
C)  Hotel controller 
D)  Hotel brand managers 
A)  Hotel GM 
B)  Hotel owner 
C)  Hotel controller 
D)  Hotel brand managers B

Question 2

Which document reports the financial performance of a hotel for the specific time period addressed by the document?

Accepted Answer

A)  Balance sheet 
B)  Income statement 
C)  Long range budget 
D)  Statement of cash flows 
A)  Balance sheet 
B)  Income statement 
C)  Long range budget 
D)  Statement of cash flows B

Question 3

A hotel's AR balance increases when

Accepted Answer

A)  products and services are sold to customers on credit. 
B)  invoices for products purchased by the hotel are paid. 
C)  legitimate invoices have been received by a hotel for payment. 
D)  customers who have been sold products and service on credit pay their bills. 
A)  products and services are sold to customers on credit. 
B)  invoices for products purchased by the hotel are paid. 
C)  legitimate invoices have been received by a hotel for payment. 
D)  customers who have been sold products and service on credit pay their bills. A

Question 4

Which document reports the financial condition of a hotel at a single point in time?

Accepted Answer

A)  Balance sheet 
B)  Income statement 
C)  Long-range budget 
D)  Statement of cash flows 
A)  Balance sheet 
B)  Income statement 
C)  Long-range budget 
D)  Statement of cash flows

Question 5

On June 1st,a hotel's balance sheet shows assets of $6,400,000 and owners' equity of $2,000,000.What is the amount of the hotel's liabilities?

Accepted Answer

A)  $2,400,000 
B)  $4,400,000 
C)  $6,400,000 
D)  $8,400,000 
A)  $2,400,000 
B)  $4,400,000 
C)  $6,400,000 
D)  $8,400,000

Question 6

In which type of accounting system would a hotel's data be combined with data from other hotels prior to its analysis?

Accepted Answer

A)  Centralized 
B)  Decentralized 
C)  GAAP system 
D)  USALI system 
A)  Centralized 
B)  Decentralized 
C)  GAAP system 
D)  USALI system

Question 7

What is the purpose of coding hotel expenses?

Accepted Answer

A)  Reduce per guest operating costs 
B)  Assign costs to specific hotel areas 
C)  Increase the speed of invoice payment 
D)  Decrease the speed of invoice payment 
A)  Reduce per guest operating costs 
B)  Assign costs to specific hotel areas 
C)  Increase the speed of invoice payment 
D)  Decrease the speed of invoice payment

Question 8

What is the formula accountants use to create a Balance sheet?

Accepted Answer

A)  Assets = Liabilities - Owners' equity 
B)  Assets = Liabilities + Owners' equity 
C)  Assets = Liabilities ÷ Owners' equity 
D)  Assets = Liabilities x Owners' equity 
A)  Assets = Liabilities - Owners' equity 
B)  Assets = Liabilities + Owners' equity 
C)  Assets = Liabilities ÷ Owners' equity 
D)  Assets = Liabilities x Owners' equity

Question 9

Who would be the best person to conduct an audit of a hotel's financial procedures?

Accepted Answer

A)  The hotel's GM 
B)  The hotel's controller 
C)  An independent and qualified CHA 
D)  An independent and qualified CPA 
A)  The hotel's GM 
B)  The hotel's controller 
C)  An independent and qualified CHA 
D)  An independent and qualified CPA

Question 10

In a large hotel property utilizing a decentralized accounting system the hotel's controller is likely to be a

Accepted Answer

A)  CHA. 
B)  CPA. 
C)  CFBE. 
D)  USAL. 
A)  CHA. 
B)  CPA. 
C)  CFBE. 
D)  USAL.

Question 11

What is the purpose of GAAP?

Accepted Answer

A)  Increase profits 
B)  Reduce expenses 
C)  Ensure uniformity 
D)  Provide flexibility 
A)  Increase profits 
B)  Reduce expenses 
C)  Ensure uniformity 
D)  Provide flexibility

Question 12

An accounts aging report allows a GM to better manage a hotel's

Accepted Answer

A)  AP. 
B)  AR. 
C)  ADR. 
D)  RevPAR. 
A)  AP. 
B)  AR. 
C)  ADR. 
D)  RevPAR.

Question 13

Which property would most likely use a decentralized accounting system?

Accepted Answer

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 
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

Question 14

What is the formula used to calculate business profits?

Accepted Answer

A)  Revenue (+) Expenses = Profits 
B)  Revenue (-) Expenses = Profits 
C)  Expenses (+) Revenue = Profits 
D)  Expenses (-) Revenue = Profits 
A)  Revenue (+) Expenses = Profits 
B)  Revenue (-) Expenses = Profits 
C)  Expenses (+) Revenue = Profits 
D)  Expenses (-) Revenue = Profits

Question 15

Which financial tool is an estimate of a hotel's future revenue and expense?

Accepted Answer

A)  P&L 
B)  Budget 
C)  Balance sheet 
D)  Income statement 
A)  P&L 
B)  Budget 
C)  Balance sheet 
D)  Income statement

Question 16

Which activity is a bookkeeping activity?

Accepted Answer

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 
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

Question 17

What is the fundamental purpose of the Sarbanes-Oxley Act?

Accepted Answer

A)  Reward innovation in accounting. 
B)  Standardize accounting procedures. 
C)  Standardize bookkeeping procedures. 
D)  Penalize fraudulent accounting practices. 
A)  Reward innovation in accounting. 
B)  Standardize accounting procedures. 
C)  Standardize bookkeeping procedures. 
D)  Penalize fraudulent accounting practices.

Question 18

The bookkeeping and accounting tasks performed in a hotel's front office are considered

Accepted Answer

A)  property accounting. 
B)  back-office accounting. 
C)  front-office accounting. 
D)  managerial accounting. 
A)  property accounting. 
B)  back-office accounting. 
C)  front-office accounting. 
D)  managerial accounting.

Question 19

What is the purpose of bookkeeping?

Accepted Answer

A)  Record financial transactions 
B)  Analyze financial transactions 
C)  Record monthly financial statements 
D)  Analyze monthly financial statements 
A)  Record financial transactions 
B)  Analyze financial transactions 
C)  Record monthly financial statements 
D)  Analyze monthly financial statements

Question 20

Which management activity is NOT reported on a hotel's Statement of cash flows?

Accepted Answer

A)  Investing 
B)  Financing 
C)  Operating 
D)  Forecasting 
A)  Investing 
B)  Financing 
C)  Operating 
D)  Forecasting

Who would most often decide if a hotel used a centralized or a decentralized accounting system?

Which document reports the financial performance of a hotel for the specific time period addressed by the document?

A hotel's AR balance increases when

Which document reports the financial condition of a hotel at a single point in time?

On June 1st,a hotel's balance sheet shows assets of $6,400,000 and owners' equity of $2,000,000.What is the amount of the hotel's liabilities?

In which type of accounting system would a hotel's data be combined with data from other hotels prior to its analysis?

What is the purpose of coding hotel expenses?

What is the formula accountants use to create a Balance sheet?

Who would be the best person to conduct an audit of a hotel's financial procedures?

In a large hotel property utilizing a decentralized accounting system the hotel's controller is likely to be a

What is the purpose of GAAP?

An accounts aging report allows a GM to better manage a hotel's

Which property would most likely use a decentralized accounting system?

What is the formula used to calculate business profits?

Which financial tool is an estimate of a hotel's future revenue and expense?

Which activity is a bookkeeping activity?

What is the fundamental purpose of the Sarbanes-Oxley Act?

The bookkeeping and accounting tasks performed in a hotel's front office are considered

What is the purpose of bookkeeping?

Which management activity is NOT reported on a hotel's Statement of cash flows?

Overview of the Hotel Industry

The Guest Service Imperative

The Hotel General Manager

General Managers Are Leaders

Human Resources

Revenue Management

Sales and Marketing

The Front Office

House-Keeping

Food and Beverage

Property Operation and Maintenance

Personal Safety and Property Security

Franchise Agreements and Management Contracts

Managing in the Global Hotel Industry

Filters

Exam 6: Accounting

Who would most often decide if a hotel used a centralized or a decentralized accounting system?

Which document reports the financial performance of a hotel for the specific time period addressed by the document?

A hotel's AR balance increases when

Which document reports the financial condition of a hotel at a single point in time?

On June 1st,a hotel's balance sheet shows assets of $6,400,000 and owners' equity of $2,000,000.What is the amount of the hotel's liabilities?

In which type of accounting system would a hotel's data be combined with data from other hotels prior to its analysis?

What is the purpose of coding hotel expenses?

What is the formula accountants use to create a Balance sheet?

Who would be the best person to conduct an audit of a hotel's financial procedures?

In a large hotel property utilizing a decentralized accounting system the hotel's controller is likely to be a

What is the purpose of GAAP?

An accounts aging report allows a GM to better manage a hotel's

Which property would most likely use a decentralized accounting system?

What is the formula used to calculate business profits?

Which financial tool is an estimate of a hotel's future revenue and expense?

Which activity is a bookkeeping activity?

What is the fundamental purpose of the Sarbanes-Oxley Act?

The bookkeeping and accounting tasks performed in a hotel's front office are considered

What is the purpose of bookkeeping?

Which management activity is NOT reported on a hotel's Statement of cash flows?

Overview of the Hotel Industry

The Guest Service Imperative

The Hotel General Manager

General Managers Are Leaders

Human Resources

Revenue Management

Sales and Marketing

The Front Office

House-Keeping

Food and Beverage

Property Operation and Maintenance

Personal Safety and Property Security

Franchise Agreements and Management Contracts

Managing in the Global Hotel Industry

Filters