Tm 445 Quiz 2 Flashcards
Retention or flow through is the percentage or formula that identifies how expenses and profits are expected to change with the given changes in expenses
False- changes in revenue
In room televisions are examples of
CapX inventory items
The p&l statement is prepared during the night audit and collects and reports actual revenue information if the precious day
False- the daily revenue report is prepared during night audit
A man hour is defined as
The number if hours one employee works in performing his or her job responsibilities
Labor productivity is measured how
By using man hours per room sold rooms cleaned per shift and or man hours per customer
Wage cost percentage compares the wage cost in dollars to corresponding profit in dollars
False-wage cost percentage compares the wage cost in dollars to the corresponding REVEnUe
What is a shoulder night?
A shoulder night is the number of group rooms sold per night before the peak night(front side) or after the peak night (back side).
What is slippage?
Slippage is the difference between expected or blocked group rooms for each night in a group room block and the actual number of rooms sold for each night in a group room block.
What is booking pace?
Booking pace is the current rate at which reservations are being received for a specific DOA.
What system is DOA the focus point?
DOA is the focus point of yield management systems.
What is a pick-up?
A pick up is the number if actual room reservations made by day for a group room block compared to the number of group rooms blocked for that night. It also included the pace at which actual reservations are being made for a specific day and the percentage of actual room reservations made compared to the group room block for the day.
What is bench rate?
Bench rate is the base room rate that a hotel wants to achieve and sell to the public.
Zero based budgeting is a bottom up budgeting approach
True
Goal based budgeting is a bottom up budgeting approach-false
False
Pp&e is NOT the acronym for property profit and expenses
Pp&e stands for property plant and equipment
Budget is the formal business and financial plan for a business for one year
True
Excel functions as a simple database, allowing easy manipulation of data to include search and sort etc
True
The small black square at the lower right corner of a cell that can be used to drag and copy is known as the fill handle
True
Don’t alignment and number are excel tools
True
Fx indicates the function took in excel
Fx not fs means function
What are functions?
Functions are predefined formulas that perform calculations by using specific values, called arguments, in a particular order or structure
What does AND do?
AND returns TRUE if all arguments are TRUE; returns FALSE if one or more argument is false
What does COUNTIF do?
Counts the number of cells within a range that meets the given criteria
What does IF do?
IF returns one value if a condition you specify evaluates to true and another value if it evaluates to FALSe
what is SUMIF?
SumIF adds the cells specified by a given criteria
What is a MEDIAN?
MEDIAN is the number in the middle if a set of numbers
What is MODE?
MODE is the most frequent number used
What is a document on excel called?
A document in excel is known as a workbook
Budget is the formal business and financial plan for a business for one year.
True
