1162 HOSP A18
Why do many companies set a floor limit specifying a maximum amount a customer is allowed to charge to a credit card?
To protect the company against fraud. A floor limit protects a business from excessive charges made illegally because the business is only held liable for the amount of the floor limit.
Emergency procedures that involve escape and evacuation because of fire or natural disasters usually include plans for identifying travelers with disabilities. relatives of passengers. hazardous materials. suspicious activities.
Travelers with disabilities. Being able to respond to emergency situations is an important consideration in the travel and tourism industry.
Individuals have the right to provide additional information about their income status and payment history when estimating their tax liability. hiring a financial planner. opening a checking account. validating their credit history.
Validating their credit history. Individuals often validate their credit history before applying for additional credit to make sure that the information in the history is accurate.
A customer hands a cashier a coupon for 20% off the price of a CD player. If the retail price of the CD player is $180, what is the price of the item after processing the coupon? $168 $140 $144 $156
$144. Although many businesses have cash registers that automatically calculate numerical data such as percentages, others might require the salesperson to calculate the discount and process the coupon. To calculate the discount in this example, first multiply the retail price by the amount of the discount ($180 X 20% or .20 = $36). Then subtract the discount from the retail price ($180 - $36 = $144).
A business's balance sheet lists $2,500 in cash, $6,125 in accounts receivable, $3,775 in inventory, $10,350 in machinery and equipment, and $4,280 in accounts payable. Calculate the business's total assets. $18,470 $27,030 $15,225 $22,750
$22,750. A business's balance sheet shows the business's financial condition at a certain point in time. It includes all assets, debts, and the owner's equity. Total assets include items such as cash, accounts receivable, inventory, machinery and equipment, buildings, land, investments, and interest. Total assets do not include accounts payable, which are considered debts. To calculate the business's total assets, add the figures for cash, accounts receivable, inventory, and machinery and equipment ($2,500 + $6,125 + $3,775 + $10,350 = $22,750).
Which of the following examples illustrates the concept of product in the hospitality industry:
A bed and breakfast advertising private baths and a fireplace in each room.
Which of the following is a characteristic of effective oral presentations: Provides discussion Identifies conflict Attracts attention Gathers information
Attracts attention. An effective oral presentation immediately attracts the attention of the audience and keeps the listeners focused on the message.
What is one of the benefits to a business of reinforcing service orientation through communication? Encourages employees to be aggressive Promotes the sale of new products Rewards customers for their support Builds positive relationships with customers
Builds positive relationships with customers. A service orientation is the business philosophy of providing quality service.
Before creating a media presentation, you should first plan the text and illustrations for the presentation by creating the needed slides. developing a schedule. planning slide transitions. creating a storyboard.
Creating a storyboard. Creating a storyboard helps you to plan the text and illustrations for a presentation and also plan the work that will need to be done to create the presentation.
Into what two categories can wants be divided? Unlimited and noneconomic Unlimited and limited Economic and noneconomic Unlimited and economics
Economic and noneconomic. Economic wants have monetary values attached to them, while noneconomic wants are free. Economics is concerned with economic wants.
Which of the following behaviors is often associated with effective hospitality and tourism managers: Questioning employees' motives Discouraging dissent Being critical of others Exhibiting self-control
Exhibiting self-control. Hospitality and tourism managers are in the people business.
One of the reasons that direct mail is frequently used as a promotional method by hotels/motels is that
Hotels/Motels usually keep guest history records. Guest history records contain the names and addresses of individuals who have been guests in the hotel or motel.
To develop new products that accommodate changing markets, a business should adopt a laissez-faire organizational structure. develop licensing programs with business partners. review its profit margins on a continuous basis. implement innovative management practices.
Implement innovative management practices. Many employees are in direct contact with customers, so they learn what the customers need and want.
What is usually the tone of a simple written report? Solemn Imprecise Informal Dramatic
Informal. Simple written reports are usually informal and friendly in tone.
The primary reason for a business to carefully track all of its vendors' invoices is to
Monitor and control expenses. An invoice (bill) documents how much a customer or client owes for the goods or services a business provides.
Quality management must begin at which level of a company? Organizational Departmental Job/Performance Process
Organizational. Quality management must begin at the top—at the organizational level.
Which of the following areas of product/service management is important in attracting customers and in protecting products: Idea generation Concept testing Packaging Labeling
Packaging. Packaging is placing the product in a protective wrap or container before it is offered for sale.
A new airline offers much lower fares than its competitors to attract potential travelers. This is an example of psychological pricing. price lining. penetration pricing. price skimming
Penetration pricing. This strategy is used to gain quick recognition from travelers and to acquire an immediate slice of the market share.
To help maintain a secure work environment, a large amusement park is likely to require all of its employees to wear their uniforms when they pick up their paychecks. provide the guests with electronic key cards to access park attractions. present their photo identification cards when they report for work. participate in diversity training programs on an annual basis.
Present their photo identification cards when they report for work. Terrorism and other threats of violence are primary security concerns for hospitality and tourism businesses.
A manufacturing company is well-suited for a divisional organizational structure broken down by Customer type Job function Product Process
Process. A manufacturing company is well-suited for a divisional organizational structure broken down by process.
Which of the following is an example of a current trend in business: Expanding economic growth Promoting private enterprise Developing market research Protecting consumer privacy
Protecting consumer privacy. Businesses are becoming more concerned with ways of protecting consumer privacy because of the new technology that makes it easy to gather and disseminate personal information.
Which of the following is an example of a business using technology to improve the efficiency of its salespeople: Providing a week of in-person training Providing laptops, tablets, and smartphones Installing security cameras Accepting debit transactions-
Providing laptops, tablets, and smartphones. Laptops, tablets, and smartphones allow salespeople to have instant access to company databases and software.
Repositioning
Repositioning. Companies attempt to reposition products in order to update a sagging image, to boost sagging sales, to prolong the life of a brand, to fill a market niche, or to be competitive.
Which of the following is an example of using social media to enhance a customer's post-sale experience: Posting about the release of a product line Obtaining new followers that could make a purchase Responding to negative and positive online reviews Offering discounts for first-time customers
Responding to negative and positive online reviews. Online reviews of products on social media can have a huge impact.
The goal of many governmental agencies is to protect the target market rights of business barriers to trade monetary policy
Rights of business. Many governmental agencies are responsible for enforcing rules and regulations that are intended to protect the rights of businesses.
What is the best way for an employee to obtain product specifications for a piece of office equipment? Develop a cost/benefit analysis Write a product review Send a letter of inquiry to the vendor Submit a quotation to management
Send a letter of inquiry to the vendor. Businesspeople write letters of inquiry to ask for information. Because the employee wants product specifications about equipment, s/he is most likely to get the needed information from the vendor or manufacturer.