15.An investor considers purchasing a 300 room full-service hotel that generates a net operating income (NOI) of $450,000 per year. The investor is willing to purchase the hotel at a cap rate of 8%. At what price per room should the investor offer to buy the hotel? E. $18,750 F. $12,000 G. $16,750 H. $15,000 16. Assets = Liabilities + Owners' Equity, is referred to as the A. basic accounting equation. B. double-entry accounting formula. C. general ledger formula. D. auditor's compliance equation. 17. Which branch of accounting concerns itself with the independent verification of financial records? A. Auditing B. Tax accounting C. Cost accounting D. Managerial accounting 18. Which is the primary concern of financial accounting? A. Recording financial transactions B. Identification of tax payments C. Control of costs D. Financial management decision making 19.The USALI is a series of standardized accounting procedures used by A. hotel managers. B. club managers. C. bar managers. D. restaurant managers. 20.The USAR is a series of standardized accounting procedures used by A. restaurant managers. B. club managers. C. full-service hotel managers. D. select-service hotel managers. 21. Which GAAP states that recorded financial transactions must have a confirmable (provable) basis in fact? A. Conservatism Principle B. Objectivity Principle C. Matching Principle D. Consistency Principle