When Ramona, the Keynote Speaker at a Major Business Leaders

question 86

Multiple Choice

When Ramona, the keynote speaker at a major business leaders' conference, arrived in the middle of the night at the Ritz-Carlton, she was exhausted and her suit was wrinkled from her ten-hour plane trip. The night clerk found someone to dry clean Ramona's suit and have it ready for her morning presentation. She has been a loyal Ritz-Carlton customer ever since. In this example, Ritz-Carlton demonstrated the macro strategy of

• A) customer excellence.
• B) operational excellence.
• C) product excellence.
• D) promotional excellence.
• E) global excellence.

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Definitions:

Owner's Capital Account

An account that represents the total equity or ownership interest of the owner(s) in a business, reflecting contributions and withdrawals.

Closing Entries

Entries recorded at the conclusion of an accounting cycle to shift balances from temporary to permanent accounts.

Ledger

A book or other collection of financial accounts where all transactions are summarized and recorded.

Balance Sheet

A financial statement that reports a company's assets, liabilities, and shareholder equity at a specific point in time, offering a snapshot of its financial condition.