concept overview quiz\nquestion 8 of 20: what is the acronym that describes the standard financial…

concept overview quiz\nquestion 8 of 20: what is the acronym that describes the standard financial classification system specifically utilized by the hotel industry?\n a) usali\n b) fica\n c) gaap\n d) p&l

concept overview quiz\nquestion 8 of 20: what is the acronym that describes the standard financial classification system specifically utilized by the hotel industry?\n a) usali\n b) fica\n c) gaap\n d) p&l

Answer

Brief Explanations:

USALI (Uniform System of Accounts for the Lodging Industry) is the standard financial classification system in the hotel industry. FICA is for Federal - Insurance Contributions Act related to payroll taxes. GAAP is Generally Accepted Accounting Principles used widely but not hotel - specific. P&L refers to Profit and Loss statement.

Answer:

a) USALI