Answer the following statements true (T) or false (F)
1. An important step in managing guests as quasi-employees is to carefully and completely define the roles you want guests to play.
2. Hospitality organizations can rely on highly paid, experienced, and well-trained sales representatives to represent the company.
3. Quick-serve restaurants tend to permit more co-production of the guest experience than fine-dining restaurants.
4. Quick-serve restaurants benefit from allowing co-production both in front of the counter and behind the counter.
1. True
2. False
3. True
4. False
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Lifetime customer value refers to:
A) the present value of the total revenue that can be produced by a customer. B) actual value of the total revenue that can be produced by a customer. C) the total number of products purchased by a customer in his lifetime. D) actual value of the total profit that can be produced by a customer.
Hercules Sports Equipment Company projected sales of 79,000 units at a unit sales price of $12 for the year. Actual sales for the year were 75,000 units at $14 per unit. Variable costs were budgeted at $3 per unit, and the actual amount was $5 per unit. Budgeted fixed costs totaled $387,000, while actual fixed costs amounted to $450,000. What is the flexible budget variance for variable costs?
A) $158,000 unfavorable B) $150,000 unfavorable C) $150,000 favorable D) $158,000 favorable
The _______________________ was passed to balance the perceived imbalance in bargaining power between management and labor by imposing restrictions on the activities of unions in an organizing campaign.
Fill in the blank(s) with the appropriate word(s).
Successive purchasers of land will not be bound by a restrictive covenant endorsed on the title
Indicate whether the statement is true or false