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Revenue Management Final Q&A 100% All Verified what is the industry term used to describe the sum of prices paid by a business's customers? -daily receipts -profit -profits less expenses -total revenues - ANS--total revenues historically, what concept have hospitality managers chiefly used to calculate their selling prices? -income -revenue -costs -profits - ANS--costs what is an algebraic equivalent of the formula: sales=costs+profit? -profit=sales-costs -costs=sales+profits ...

What is the industry term used to describe the sum of prices paid by a business's customers? - total revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - profit=salescosts What is the name for the net value achieved by both parties in a business transaction? - profit What element is not present in a barter economy? - money What is the formula used ...

Profit - ANSWER-total sales - total expenses Profit margin - ANSWER-profit/sales Costs of Goods Sold - ANSWER-costs/sales ADR - ANSWER-average daily rate ADR Formula - ANSWER-room revenue/rooms sold Occupancy rate - ANSWER-rooms sold/rooms available breakeven - ANSWER-fixed costs/ sales price - variable costs debt ratio - ANSWER-liabilities/member equity revenue management - ANSWER-The objective of Revenue Management is to sell the right product to the right customer at t...

What is the industry term used to describe the sum of prices paid by a business's customers? - ANSWER - Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - ANSWER - Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - ANSWER - Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - ANSWER - Profit What element is not present in a ba...

Revenue Management Final Exam with 100% Correct Answers | Verified | Latest Update 2024 What is the industry term used to describe the sum of prices paid by a business's customers? - Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - Pr...

REVENUE MANAGEMENT FINAL EXAM, PRACTICE EXAM 2024 LATEST VERSIONS QUARANTEED PASS QUESTIONS CORRECTLY ANSWERED.. What is the industry term used to describe the sum of prices paid by a business's customers? - ANSWER- Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - ANSWER- Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - ANSWERProfit = Sales - Costs What is the name for the net valu...

What is the industry term used to describe the sum of prices paid by a business's customers? - total revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - profit=sales-costs What is the name for the net value achieved by both parties in a business transaction? - profit What element is not present in a barter economy? - money What is the formula used to...

What is the industry term used to describe the sum of prices paid by a business's customers? - Correct Answer total revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Correct Answer costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Correct Answer profit=sales-costs What is the name for the net value achieved by both parties in a business transaction? - Correct Answer profit What element is not...

What is the industry term used to describe the sum of prices paid by a business's customers? - ANSWER-total revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - ANSWER-costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - ANSWER-profit=sales-costs What is the name for the net value achieved by both parties in a business transaction? - ANSWER-profit What element is not present in a barter economy? - ...

Revenue Management Final Exam Question & Answer What is the industry term used to describe the sum of prices paid by a business's customers? - ANS-Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - ANS-Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - ANS-Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - ANS-Profit What eleme...