Question
**please ignore the checked boxes** . Please explain how you chose your answer Q3: The definition of an accountant is a person who... A. holds
**please ignore the checked boxes** . Please explain how you chose your answer
Q3: The definition of an accountant is a person who...
A. | holds the title of "General Manager" in a business. | |
B. | can read complex financial documents. | |
C. | can estimate the cost of governmental taxes. | |
D. | is skilled in the recording and reporting of financial transactions. | |
E. | has completed one or more college courses in accounting. |
Q5: Which branch of accounting would be used to determine how to achieve a profit of $10,000 in the month of April based by selling hotel rooms?
A. | Cost | |
B. | Managerial | |
C. | Tax | |
D. | Financial | |
E. | Auditing |
Q6: From the following, select the accurate equations that relate to revenue, expenses, and profits.
*Multiple answers may apply
A. | Profit = Revenue - Expenses | |
B. | Revenues = Profit + Expenses | |
C. | Expenses = Profit + Revenues | |
D. | Profit = Revenues + Expenses | |
E. | Expenses = Revenue - Profit |
Q7: The Sarbanes-Oxley Act (SOX) is an independent verification of financial records.
True False
Q8: From the following, select examples of taxes that hospitality managers may be responsible for.
*Multiple answers may apply
A. | Sales Taxes | |
B. | Occupancy Taxes | |
C. | Payroll Taxes | |
D. | General Excise Taxes (GET) | |
E. | Transient Accommodations Taxes (TAT) |
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