Rev mgmt final exam - Study guides, Class notes & Summaries

Rev Mgmt Final Exam Apart from a "science", in what sense Revenue Management is called an "art"? - ANSUsing strategy to work with the numbers What is bigger in the tourism industry, fixed costs or variable costs? - ANS-Fixed cost is higher We can reduce prices (even below total cost per room), as long as the reduced price covers, fixed cost per room or variable cost per room? - ANS-Variable cost per room High Value Customers tend to book early or last? - ANS-Book last Do we sell ...

Acct 3222 | 1 2023 Final Exam Prepared 100% Questions with A+ Correct Answers Revenue - CORRECT ANSWER-inflows of assets from delivery or producing goods or rendering services - realized and earned Realized - CORRECT ANSWER-product/service is exchanged for cash/promise/other asset Earned - CORRECT ANSWER-products have been delivered or services provided Criteria for Revenue - CORRECT ANSWER-- evidence - delivered/rendered - price fixed and determinable - assured collectability Fraud Ris...