Managerial Accounting for the Hospitality Industry

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

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

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

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

2. Why is capital budgeting helpful?

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

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
Support