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**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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