Buad Final Exam With Complete Solutions Latest, Exams of Business Administration

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Revenue - correct answers Rate X Volume Balance Sheet - correct answers This document measures the value or net worth of a business. Occupancy Percentage - correct answers rooms sold/total rooms available profit - correct answers total revenue minus total cost last year - correct answers The financial performance of the previous year. budget - correct answers The formal business and financial plan for a business for one year. average rate - correct answers Rooms Revenue / Rooms Sold pro forma - correct answers The projected first year of operations prepared before actual operations begin. RevPAR - correct answers Total Room Revenue / Total Available Rooms RevPAR - correct answers ADR x Occupancy Rate Change in Dollars - correct answers Actual Results - Previous Results forecast - correct answers The act or process that updates the budget, weekly, monthly or quarterly.

Profit and Loss (P&L) Statement - correct answers A financial statement that provides information about a company's profitability over a stated period of time. property - correct answers The term for the physical hotel of a business. Golf Revenues - correct answers Total Player Rounds X Greens Fees Rate - correct answers The dollar amount paid by a customer to receive a product or service by a business. Working Capital - correct answers current assets - current liabilities Spa Revenues - correct answers # of Treatments X Average Treatment Price Income - correct answers This term is interchangeable with profit and earnings. Change - correct answers The difference between two numbers. rooms revenue - correct answers Rooms Sold X Room Rates Retention & Flow-Through - correct answers Change in Profit Dollars / Change in Revenue Dollars Accounts Payable - correct answers The process of approving invoices and issuing checks in payment for products and good received by a hotel or restaurant. Accounting period - correct answers 28-day time period that can be used instead of calendar months to prepare management reports and financial statements covering hotel operations. Accounts Receivable - correct answers The process of billing and collecting accounts settled after the guest or company has checked out of the hotel. It includes credit card billing and company billing.

Director of Finance - correct answers Executive Committee Member directly responsible for all accounting operations in a hotel, sometimes referred to as the Controller. General Manager - correct answers The senior manager in the hotel who is responsible for all hotel operations. All positions and activities are the responsibility of this person. Department head - correct answers The senior operating manager for a specific department who is responsible for all aspects of that department's operations and financial performance. Daily Revenue Report - correct answers A report that is prepared during the night audit shift and collects and reports actual revenue information of the previous day man-hours - correct answers The number of hours an employee works in performing his or her job responsibilities. (Typically full-time employees are scheduled for an 8-hour day and a 40-hour week). Rack Rate - correct answers the price at which a hotel sells its rooms when no discounts of any kind are offered to the guest Group Room Block (Group Contract) - correct answers A signed contract that identifies the number and pattern of group rooms for each night and the total group rooms for that event. It also includes the room rate, VIPs, people authorized to sign for charges, and other detailed information about the group. Peak Night - correct answers the night or nights in a group room block that has the largest number of occupied rooms. Revenue Management - correct answers The process of selling the right product to the right customer at the right time at the right price, thereby maximizing revenue from a company's products and services. Shoulder night - correct answers the number of group rooms sold per night before the peak night (front side) or after the peak night (back side). slippage - correct answers The difference between expected or blocked group rooms for each night in a group room block and the actual number of rooms sold for each night in a group room block.

Selling strategy - correct answers the actions and decisions of the senior management of a hotel in opening and closing room rates, arrival dates and length of stay to maximize total hotel room revenues. competitive set - correct answers the group of competing hotels to which an individual hotel's operating performance is compared market share - correct answers the percentage of a total room supply, room demand, or room revenue that a hotel as a percent of some larger group. STAR Market Reports - correct answers published monthly by the Smith Travel Research Company, an independent hospitality industry research company. This report provides a hotel with rate, occupancy and RevPAR information for itself and it's competitive set. capital expenditures budget - correct answers The formal budget that identifies the need of replacing long-term assets of the business for renovation and expansion. Monthly Forecast - correct answers a forecast of revenues for the next month, including the average rates and volumes for specific market segments, departments or meal periods. Retention - correct answers Measures how much profit goes up or down as a percent of change in revenue. Also referred to as flow-through. Pickup - correct answers the number of actual room reservations made by day for a group block compared to the number of group rooms blocked for that night. Contract Rooms - correct answers Rooms that are reserved in a hotel on a daily basis, primarily for airline crew rooms. Extended Stay - correct answers A hotel stay of five nights or more. Profit and Loss Statement (P&L) - correct answers A financial report that details a company's performance over a specific period of time by subtracting expenses from revenue to obtain net income; also known as an income statement.

Executive Committee - correct answers Members of senior management who report directly to the General Manager and have responsibility for several specific hotel departments. General Manager (GM) - correct answers The traditional title of the individual at a hotel property who is responsible for final decision-making regarding property-specific operating policies and procedures. Also, the leader of the hotel's management team. Transient Rooms - correct answers Rooms that are made with no affiliation to a group or a specific contract room agreement. House Profit - correct answers The profit amount that includes all revenues and expenses controlled by hotel management and measures management's ability to operate the hotel profitably. hold - correct answers The amount of money a casino holds onto after betting ceases. Comps - correct answers complimentary goods and services offered to casino patrons in order to attract their business marker - correct answers a signed document that obligates a casino player to repay a loan from a casino. TITO - correct answers Ticket in Ticket Out. Technology that allows customers to take a ticket with a bar code and dollar amount printed on the ticket. cash equivalents - correct answers instruments that have a cash value but are not issued by the US government. RNG - correct answers a computer chip whose sole purpose is to think of numbers. Fill - correct answers An order to replenish the supply of chips at a specific game or table. credit - correct answers An order to bring down the total number of chips at a specific game or table. Drop team - correct answers the group of cage operations employees who do the drop.

tell - correct answers a motion or action that signals that the cheater has done something to cheat. slot club - correct answers private club in casinos designed to reward current slot players and entice new slot players. Explain the importance of William H. Harrah to the use of financial controls in the casino industry - correct answers He created the Nevada Gaming Control Board The formula for hold - correct answers Drop - Paid Out The Casino Industry Profit Calculation - correct answers Profit = Hold = Drop - Paid Out What three states have the most Tribal Gaming Casinos - correct answers 1. Oklahoma

2. California
3. Minnesota When was the first casino license awarded in Nevada and whom was it awarded to? - correct answers Mayme Stocker in 1931 In commercial casinos, what game brings in the most money in terms of winnings and wagers? - correct answers Slot machines Based on data obtained in 2010, how much of a $10 wager will go back to the tribal casino? - correct answers $ What are the three most common amusement parks? - correct answers ● Amusement Parks ● Water Parks ● Museums With regards to the amusement park industry, what does per capita/"per cap" mean? - correct answers Per person that visits

What are the three main sources of revenue for Amusement Parks? - correct answers 1. Tickets

2. Merchandise
3. Food What are the five main Amusement park companies that have locations in the United States? (bonus point for listing them in the order of most revenue to least revenue based on 2017). - correct answers 1. Disney
4. Universal
5. Six Flags
6. Cedar Fair
7. Sea World Why did Six Flags apply for Chapter 11 bankruptcy in 2009? - correct answers Epidemics, deaths on rides, 2008 recession, Mexico shut down due to disease, and over $2 billion in debt Page 45 of Six Flags 2017 Annual Report - correct answers Admissions went up = performance increased Why did SeaWorld see an increase or decrease in total revenue in 2017 compared to 2016? - correct answers Performance went down a lot from 2016 to 2017 Page 17&30 of the Cedar Fair Annual Report - correct answers Increase in performance b/c of expansion in a few locations (investments) Organizational Chart for Theme Park - correct answers Shareholders > Board of Directors > President > VP Human Resources, VP Finances, VP Development, VP Operations (Rides, F&B, Stores Guest Services), VP Marketing, VP Engineering (Rides, Maintenance, Gardening) Organizational Chart for Casinos - correct answers President > VP Casino Operations, VP Hotel Operations, VP Human Resources (Personnel), VP Marketing, VP Finance (Controller, Credit Manager, Collection Manager), VP Security (Director of Surveillance)

Hold - correct answers The difference between the money wagered by customers and the amount paid for winning bets. Drop - correct answers the revenue a casino collects in all gambling activities or the total amount of cash plus markers, during a given time frame for a table, on a shift, or in the entire casino. House Advantage - correct answers the difference in payoffs between the true odds and the actual payoff. House Advantage Calculation as a percentage - correct answers House Advantage / Total Wagered Domestic - correct answers The release of the film in America and Canada, also known as "North America". International - correct answers he release of the film in the rest of the world combined. Theatrical - correct answers Relating to the cinema release (i.e. in movie theatres). Home Entertainment (Home Vid/Home Ent) - correct answers The release of the film on DVD, Blu-Ray, previously VHS and online streaming services. Pay TV - correct answers Subscription television channels. In the UK this includes Sky Cinema and in the US cable networks such as HBO. Free TV - correct answers Free to air television, typically either public service broadcasting or ad supported. In the UK this includes the BBC and in the US ABC. Video On Demand - correct answers Online streaming services (such as iTunes, Netflix and Amazon Prime). pay-per-view (PPV) - correct answers An old form of VOD which is still active in some places involving the viewer paying to watch an encrypted, scheduled transmission of the movie. Development - correct answers Getting to a final script

Pre-Productoin - correct answers Building a team and planning the shoot Production - correct answers Shooting the movie Post-Production - correct answers Editing, visual effects, sound design and music. Marketing - correct answers The method in which studios need to build and channel the awareness / excitement for a movie to ensure that everyone goes to see it during this period. Prints - correct answers The physical copies of the films which are given to cinemas. Residuals - correct answers Unions for the cast and crew have agreed deals with Hollywood studios which ensure that their members receive additional payments from the income the film generates. Financing Costs - correct answers These can include costs involved with borrowing money to make the film (interests and brokerage fees) and currency conversions (for overseas shoots). Overhead - correct answers The fee which covers the time studio staff spend on the project, the costs of deals which apply to all films the studios make and the benefit a production is regarded as receiving from operating under the studio brand. Profit Participation - correct answers The contingent compensation and that typically goes to the key 'creatives' involved in making the film - namely the director, producer(s), writer(s) and key cast. Physical delivery costs - correct answers The physical costs of creating and shipping prints to cinemas and of creating and shipping physical media to stores P&A - correct answers Prints & Advertising Recoupment Waterfall - correct answers the stages money passes on its journey from the movie-goers to the filmmakers

box office gross - correct answers the total amount of money collected by cinemas from movie audiences. cinemas share - correct answers exact percentage cinemas take from tickets Licensed non-first window content - correct answers content that has been shown on another network first Licensed original first-window content - correct answers content that is shown on the network/streaming service first, but not created by the network. Owned original first-window content - correct answers original content that is owned and created by the streaming service Linear TV - correct answers when viewers must watch a scheduled TV program at the time it's broadcasted, and on the channel it's presented on Non-linear TV - correct answers non-traditional means of viewing that enables place- and timeshifting Advanced TV - correct answers several forms of streaming TV content, including connected TV, TV everywhere, linear addressable and video on demand (VOD) addressable Connected TV - correct answers using a smart TV to watch content through an over-the-top (OTT) device like Apple TV, a Blu-ray player, a streaming stick like Amazon Fire TV Stick, a gaming console like Xbox One or even just through the smart TV interface itself. TV Everywhere - correct answers the ability to watch TV everywhere or anywhere Video On Demand - correct answers when you watch video content after its official release date or original air date and time. OTT - correct answers Over the top device (Apple TV, Amazon Fire Stick, Xbox One).

Hulu - correct answers Entertainment Company that is primarily oriented towards instant streaming of television series, carrying current and past episodes of many series from its owners' respective television networks and other content partners. Netflix - correct answers a streaming service that allows our customers to watch a wide variety of award-winning TV shows, movies, documentaries, and more on thousands of internet-connected devices. Apple TV - correct answers a digital media player and microconsole developed and sold by Apple Inc. Roku - correct answers a series of digital media players manufactured by Roku, Inc. The name comes from the Japanese word 六 meaning "six" and was named so because it was the sixth company that Anthony Wood started. YouTube - correct answers a video-sharing website in which users can upload, view, and comment on videos The casino industry Profit Calculation - correct answers Profit = Hold = Drop - Paid Out Describe the differences between cash, cash equivalents, and chips - correct answers Cash is endorsed by U.S. govt Cash eq. = currency not endorsed by U.S. govt Chips = example of cash eq. Arrange the five types of casinos in the proper order of revenue (top to bottom) - correct answers Commercial Tribal Racinos Riverboat Card Rooms What three states have the most Tribal Gaming Casinos? - correct answers Oklahoma California Minnesota

What was the Court Case that helped to make Tribal Gaming Casinos legal? - correct answers Cabazon Band of Mission Indians vs. California What was the law that was established to coincide with the tribal casinos being legal? - correct answers Indian Gaming Regulatory Act What are the top 5 casino markets in the US (2017)? -- bonus point if you can list them in the proper order of revenue top to bottom. - correct answers Las Vegas, NV Atlantic City, NJ Chicago, IL Washington, D.C. New York City, NY What is the importance of Proposition 5 as it relates to gaming in California? - correct answers Allows Indian gaming in CA like the Nevada gaming style Where was the first Tribal Gaming Casino and what game did they host initially? - correct answers Florida and bingo What was the show that started the shift for Netflix into the original content game? How much was the investment to get this show and what specific network were they looking to compete with by acquiring this show? - correct answers House of Cards with $100M investment which was in competition with HBO. What is the difference between linear TV and non-linear TV? Which type of "TV" will be more popular in the future and why? - correct answers With non-linear TV, it is with episodic content that makes it powerful to have all the episodes at once "binge viewing" as opposed to linear TV. Non-linear TV will be more popular because it gives you the release date of the new season and all the episodes for that specific season come available for those that want to binge and rather not spend every week waiting for a new episode to release. Why does Reed Hastings look for courage in the people that Netflix hires? - correct answers He wants people to speak the truth because disagreeing silently is disloyal. It is also not okay for a decision to go through without someone saying what they're thinking.

What two original fiction series from Netflix have won Emmy's? - correct answers The Crown and Orange is the New Black. What are the five Netflix original fiction shows that are in the top 150 rated shows on IMDB? - correct answers Narcos, The Punisher, Ozark, Mindhunter, and House of Cards What are the four areas that Hulu is aligning with? - correct answers Technology/Product, Subscriber Journey, Content, Advertising Revenue How many original shows does Hulu predict they will release in 2019? How many subscribers does Hulu currently have?

• correct answers 20-25 shows and 20 million subscribers. What are the three main sources of revenue for Hulu? - correct answers Live TV, Advertising and Subscriptions What four companies own a stake in Hulu and how much of a stake does each company hold? - correct answers AT&T with 10%, Fox 30%, The Walt Disney Company 30%, and Comcast 30%. How does Hulu plan on making advertising relevant? - correct answers Create an ad experience that is focused on the customer with quality, lower ad load, what ad is being served to the customers. Which states currently have a no minimum spend requirement to qualify for a film incentive? - correct answers New Mexico, New York, Rhode Island, Why do filmmakers choose to film in Canada? - correct answers Canada's national incentive offers a refundable tax credit on Canadian labor. There are no caps. The minimum spend required to qualify varies by type of project: 1 million Canadian dollars, or about $800,000 in U.S. currency. National incentive can be added to a wide variety of regional incentives Making a film involves hundreds of negotiations with? - correct answers Production Distribution Back-end talent agreements Profit-sharing with investors

How do gamers earn money on twitch? - correct answers Users on Twitch support their favorite content creators directly through subscriptions and donations, which accounted for 51% of GVC revenue on the platform. Calculate profit for 30m to 100m movie budget - correct answers Costs Multiply budget by 6.2% P&A 41% of budget Participation 16% of budget Manu Costs 22% of budget Overhead 7% of budget Residuals 11% of budget Income D. Revenue 47% I. Revenue 59% Subtract from TR