In Order to Build and Maintain Customer Loyalty and Commitment

question 17

True/False

In order to build and maintain customer loyalty and commitment, it is not crucial in remembering and addressing guests by name?

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Definitions:

Implicit Interest Rate

The rate of interest implied in the lease payments or in other financial arrangements, not explicitly stated.

Residual Value

The estimated value of an asset at the end of its lease term or useful life.

Straight-Line Depreciation

A method of allocating the cost of a tangible asset over its useful life in an even manner.

Fair Value

The amount one would get from selling an asset or the cost to transfer a liability in a smooth transaction among market participants on the date of valuation.