The Channels Available in the Hospitality Industry Include, but Are

question 29

True/False

The channels available in the hospitality industry include, but are not limited to, hotel brands like Marriott International and Hilton Hotels and Resorts, franchises like Days Inn and Howard Johnson, reservations companies like Pegasus or Synexis or hotel representative companies like Utell and SRS.

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Definitions:

Financial Reporting Practices

Procedures and standards governing how a company's financial health and operations are recorded, summarized, and reported to stakeholders.

Budgeting System

A systematic approach to planning and controlling the financial resources of an organization or individual.

Accrual Accounting

Accounting method that records revenues and expenses when they occur, not necessarily when cash actually changes hands.

Credit

Receiving money, goods, or services on the basis of an agreement between the lender and the borrower that the loan is for a specified period of time with a specified rate of interest.