Deck 8: Managing the Financials

Question 1

Assets are items that have contractual obligations

Answer 1

False

Question 2

Which of the following items is considered as an asset to a hotel?

A) guest charges
B) fountain in lobby
C) both A and B
D) insurance payment

Answer 2

both A and B

Question 3

A debit is used to decrease a liability.

Answer 3

True

Question 4

An example of a liability is a contract to pay for a mortgage on a hotel.

Question 5

This form allows cash disbursement from the front desk clerk's bank.

A) transfer slip
B) paid-out slip
C) folio adjustment
D) none of the above

Question 6

Chef Louise needs 4 bottles of red wine for her special soup. She sends her assistant to the front desk for cash to pay for it. Which of the following forms will the front desk clerk have to complete?

A) transfer slip
B) paid-out slip
C) folio adjustment
D) none of the above

Question 7

The front desk clerk has to post a check for the wedding of Mr. Jake's daughter. The desk clerk would post it to Mr. Jake's city ledger account.

Question 8

Which of the following errors are common posting errors?

A) transposing dollar amounts
B) transferring charges to incorrect accounts
C) using an incorrect folio
D) all of the above

Question 9

Eugene posted $10.91 for a breakfast charge as $10.19. This type of error is referred to as which of the following?

A) transposing dollar amounts
B) transferring charges to incorrect accounts
C) using an incorrect folio
D) all of the above

Question 10

This type of ledger is a collection of folios of current guests in the hotel.

A) city ledger
B) reservation ledger
C) guest ledger
D) Face Book ledger

Question 11

This type of ledger is a collection of folios of unregistered hotel guests who maintain accounts with the hotel.

A) city ledger
B) guest ledger
C) LinkedIn
D) hotel notebook