Shawn, the Manager of a Hotel, Has the Responsibility of Checking

question 69

Multiple Choice

Shawn, the manager of a hotel, has the responsibility of checking if all customers who have booked for corporate buffets will be making it on the given date.This ensures that any foreseeable cancellation does not lead to losing business for the day.The hotel has employed this measure to overcome the challenge posed by the:

• A)intangibility of services.
• B)consistency of services.
• C)perishability of services.
• D)inseparability of services.
• E)invariability of services.

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Definitions:

Depreciation Expense

A rephrased definition: The charge to income, representing the allocation of the cost of an asset over its useful life during a specific period.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset since it was acquired.

Adjusting Entries

Accounting records made during the closing of a financial period to properly distribute expenses and revenues to the time they were truly incurred.

Costs Recorded

Expenses documented in the financial records of a business, reflecting the economic use of resources.