In a Revenue Management and Six Sigma Context, an Unrented

question 45

Multiple Choice

In a revenue management and Six Sigma context, an unrented hotel room or empty airline seat is considered to be a(n) ?

• A) Asset
• B) Cost
• C) Error
• D) Defect

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Definitions:

Written Warranty

A legally binding promise made by a seller to a buyer that a product will meet certain quality and reliability standards.

Implied Warranties

Unwritten guarantees that ensure products or services meet certain standards of quality and reliability, even though not explicitly stated.

Disclaim

A legal term used when one renounces their right or claim to something, often to avoid liability.

Truth-in-Lending Act

A legislation at the federal level aimed at encouraging the knowledgeable use of consumer credit through mandated disclosures regarding its conditions and expenses.