An accounting information system should be designed to provide information that is useful. To be useful the information must be:
A. marginal between two alternatives.
B. historical in nature and not purport to predict the future.
C. qualitative rather than quantitative.
D. unique and unavailable through other sources.
E. relevant, accurate, and timely.
Answer: E
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Which of the following is a weak internal control over cash collections from receivables?
A) The credit department should have no access to cash. B) A credit department should evaluate customers' credit applications to determine whether they meet the company's approval standards. C) A company should have written approval standards for processing customers' credit applications. D) In order to avoid losing sales, all customers' credit applications should be approved.
Answer the following statements true (T) or false (F)
1. Empowerment is especially advisable if the business environment is highly predictable. 2. Just as customers define the quality and value of the guest experience, so do managers define the quality and value of the employment relationship. 3. Ownership in company stock can help employees feel more invested in the company’s success. 4. Every hospitality manager should understand this basic principle: Rewarded behavior tends to be repeated; unrewarded behavior tends not to be repeated.
In the referral approach, a salesperson mentions the name of a mutual acquaintance.
Answer the following statement true (T) or false (F)
Once managers have agreed on an entity's core competencies, the CMS can be designed to do all but which of the following?
a. Track performance in competency areas through time. b. Collect external intelligence on competitor performance in competency areas. c. Generate output about those competencies in a useful format for interested parties. d. A CMS can be designed to do all of the above.