Financial control as described in the course textbook refers to:a.detecting and analyzing variances from past achievementsb.responding to deficiencies in organizational structurec.initiating corrective action for the deviation from standardsd.measuring performance against market goals

Which of the following statements is true?a.Despite falling birth rates in developed countries, the world is experiencing historically the largest number of youths.b.Ease of travel contributes to creating barriers that impede tourism development.c.Recent advances in transportation development made remote areas in the world least accessible.d.Global demographic changes are not among the key factors affecting the development and growth of tourism nowadays.

Based on the materials of the course, which of the following statements is true?a.Profit margin is sales minus variable costs.b.Full service restaurants have lower profit margin and higher volume of sales compared with quick service restaurants.c.Budget is used as a control tool when analyzing the actual results of operation.d.Quick service restaurants have the highest profit margin but lower volume of sales compared with full service restaurants.

Based on the course materials, the U.S. has become an important tourist destination for people from other countries because of thea.unstable political situation in the world.b.political changes in Eastern Europe, which added additional tourist markets interested in visiting the US.c.decreased competition among international and domestic airlines.d.declining standards of living in many countries and how these standards can be met when traveling in the US.

Based on the course materials, which of the following is not the reason why people participate in conferences?a.Academic purposes, such as learning new research informationb.Highly profitable business transactionsc.Organizational presence that is needed to expose the company to potentially interested partiesd.Social interaction among attendees

If an aboriginal tourism organization is using sophisticated travel distribution networks, it is categorized as:a.Tourism-readyb.Market-readyc.Visitor-readyd.Export-ready

Indigeneous people who leave in Canadian Arctic are most likely to bea.Metisb.Inuitc.Arctic Nationsd.First Nations

preading of Western values across the globe can be referred to as:a.Trend of the past but not present or futureb.Entirely negative effect of globalizationc.Homogenizing effect of globalizationd.Undeniably positive effect of globalization

Based on the course materials, which of the following defines the "balance sheet" in a hospitality operation?a.It is a statement of income and expense.b.Balance sheet reflects the value and ownership of business.c.It shows revenue, expenses and net income or loss.d.It can be compared with income statement to assess the efficiency of the operation since both documents have a very similar format.

As explained in the course materials, the following has not contributed to the growth of tourism in various parts of the world:a.decreased cost of leisure facilitiesb.demographic trendsc.rising family income, for example, an increased number of two-income familiesd.leisure time, such as length of vacations

Which of the following statements is false?a.Many countries in the world have been experiencing development and growth in tourism after 1950s.b.Before 1950s there was a significant competition among new and emerging tourist destinations all around the world.c.Collaborative consumption can also be referred to as sharing economies and means increased accessibility of goods and services for various categories of consumers.d.The impact of collaborative consumption on economies needs to be studied and analyzed because it continues to affect the ways we buy and use products and services.

Based on the course materials, which of the following statements about meeting industry is false?a.In times of pandemic, social distancing and reducing the number of participants in shared spaces are important safety factors for meetings organizers.b.Conventions are meetings that attract huge crowds of participants and are often held at the same time as trade shows.c.Fatigue experienced by the participants of virtual coneferences is an example of safety challenges associated with virtual meetings.d.During tourist off-season, for example in months between October and March in Vancouver, corporate meetings and conferences can help with filling the hotels that otherwise would experience low occupancy.

Travel multiplier mean the economic impact of tourism is measured by travel-related spending combined with additional expendituresa.Trueb.False

The specific dollar results expected from planning an operation for a particular period of time, for example, a month or a year, are found in thea.company's financial standards.b.outline of a company's financial strategy.c.company's budget.d.accounting department's tactics.

Unlike in-person conferences, with virtual events, we don't have to make higher dollar investments, and virtual events will continue growing in popularity. However, not every event will remain fully virtual.It is believed that the first market that's going to come back for in-person events are going to be the massive trade shows. Please give reasons why for particular events market clients, such as trade show market, it is important to meet in person. You can provide a short answer - a couple or a few sentences.

Based on the course materials, what is the purpose and the difference of pre-costing and post-costing of menu items? (A few sentences would be enough to answer.)