The organization that administers the certification programs for Certified Hotel Account Executives and Certified Hotel Technology Professionals is:
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a.
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the Internal Revenue Service (IRS).
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b.
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the Securities and Exchange Commission (SEC).
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c.
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Hospitality Financial and Technology Professionals (HFTP).
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d.
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the Financial Accounting Standards Board (FASB).
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Question
The major disadvantage of the corporate form of business organization is:
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a.
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limited liability.
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b.
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double taxation.
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c.
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all of the above.
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d.
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difficulty in raising capital.
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Question
Regardless of the size of an operation's accounting department, the diversity of its responsibilities, or the number and types of reports produced, the accounting staff is responsible for providing:
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a.
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clean rooms that are ready for sale.
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b.
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service.
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c.
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guest comment cards.
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d.
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inventory counts.
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Question
The generally accepted accounting principle of matching requires that:
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a.
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hospitality businesses use the cash basis of accounting.
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b.
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expenses be matched with the revenues they generate.
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c.
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accounting adjustments be made at least quarterly.
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d.
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balance sheet accounts and income statement accounts match.
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