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skad [1K]
3 years ago
15

The term bench marking as relates to the hotel industry refers to A-line by line analysis's of the operating statement comparing

metrics for hotels of such a similar size or profiles that true ir false
Business
1 answer:
taurus [48]3 years ago
3 0

Answer:

true

Explanation:

Bench marking is a tool used to measure and improve performance of a company or segment.It involves a Managers identifying the best entity or segment that has similar attributes to its operations and/or segment in terms of industry, size and market, then comparing what they do well the most and implementing changes in their firm`s or segments.

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On July 1, 2019, Sheffield Corp. pays $20,700 to Kalter Insurance Co. for a 3-year insurance contract. Both companies have fisca
11111nata11111 [884]

Explanation:

The journal entries are as follows:

On July 1

Prepaid Insurance A/c Dr $20,700

           To Cash A/c $20,700

(Being prepaid insurance is paid)

On December 31

Insurance expense A/c Dr $

          To Prepaid insurance A/c $1,110

(Being the insurance expense is recorded)

The insurance expense is shown below:

= $20,700 ÷ 3 years × 6 months ÷ 12 months

= $3,450

3 0
3 years ago
A review of the personal selling process indicates that selling is:
MArishka [77]

Answer:

d. a matter of establishing relationships.

Explanation:

Selling involves creating a relationship with the prospect.

The sales relationship has the short-term value you get from the customer.

There is also the long-term life-time value of the customer to be considered.

Sales based on referrals are the easiest to obtain and give best value.

Good relationships give rise to refrrals.

7 0
3 years ago
Michael Chang buys only tennis rackets during a particular year. During the year in question, the price of all goods rises by 10
Zolol [24]

Answer:

Michael does not experience inflation because he only buys Tennis rackets

Explanation:

Inflation is defined as increases in price per unit price.

It is the prolonged increase in the price of goods and services caused by devaluation of currency , demand -pull or cost - push. While a certain degree of inflation can be beneficial to a thriving economy , it can become a threat if it becomes larger.

One of the direct impact of inflation is rise in price of goods and services.

As the price of rackets was not affected by the inflation , that means that Michael was not affected by the inflation.

6 0
2 years ago
Because of the wealth effect, a rising aggregate price level _____ the purchasing power of wealth and therefore _____ the aggreg
Tems11 [23]

Because of the wealth effect, a rising aggregate price level "reduces" the purchasing power of wealth and therefore "reduces" the aggregate quantity of output demanded.

<h3>What is wealth effect?</h3>

According to the wealth effect, a behavioural economic hypothesis, customers will spend more money even if their income stays the same.

The effect of wealth effect on aggregate demand is-

  • People will increase their consumption as their wealth rises. Thus, at lower price levels compared to higher price levels, the consumption component of aggregate demand will be stronger.
  • A person's desire for inexpensive fast food is likely to decline as their income rises, but their desire for more costly steak may increase.

To know more about the aggregate demand and aggregate supply, here

brainly.com/question/25749867

#SPJ4

6 0
2 years ago
A business owner makes 1000 items a day. Each day she spends 8 hours producing those items. If hired, elsewhere she could have e
AveGali [126]

Answer:

c. ​$240,000

Explanation:

Her economic profit is given by her revenue deducted by the explicit costs (I=$150,000) and implicit costs (opportunity cost).

Her monthly revenue is:

R=1,000\ (items/day)*30\ days*\$15/item\\R = \$450,000

Her opportunity cost is:

O = 30\ days* 8\ (hours/day)*\$250/hour\\O=\$60,000

Her economic profit is:

P = R-I-O\\P=\$450,000-\$150,000-\$60,000\\P=\$240,000

The answer is c. ​$240,000.

5 0
2 years ago
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