Managerial Accounting for the Hospitality Industry


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Why is managerial accounting a critical activity in the hospitality industry?

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1. Which process assesses the advantages of increasing sales of certain products and services?

2. Why is capital budgeting helpful?

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About This Quiz & Worksheet

The questions in this quiz will measure your understanding of managerial accounting in hospitality, including topics like the advantages of increasing sales of products and services. This multiple-choice quiz is interactive and mobile-friendly.

Quiz & Worksheet Goals

Here's what you'll be tested on:

  • Major role of management accounting
  • Assessing the advantages of increasing sales of products and services
  • Advantage of capital budgeting
  • What helps managers project future financial data
  • Appropriate way of determining product costing

Skills Practiced

  • Knowledge application - use your knowledge to answer questions about a major role of management accounting
  • Information recall - access the knowledge you've gained regarding the appropriate way of determining product costing
  • Interpreting information - verify that you can read information regarding the advantage of capital budgeting and interpret it correctly

Additional Learning

Be sure to check out the related lesson titled Managerial Accounting for the Hospitality Industry. You'll learn more about this topic, including the following:

  • Reports that show costing information
  • Assessing the level of profit
  • Comprehensive capital budgeting report
  • Determining the real cost of products and services
  • Projecting future financial data