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Hospitality Industry Managerial Accounting 8th Edition

Hospitality Industry Managerial Accounting (8th Edition)

Book Edition8th Edition
Author(s)Schmidgall
ISBN9780866124973
PublisherEduc. Inst. Of The American Hotel & Motel Assoc.
SubjectAccounting

Chapter 1, End of Chapter, Review Questions, Exercise 1

Page 32

Here is a tip:

Manufacturing firms are the industries that engage in the production and sale of products by using labor and technology.

Explanation

  • The hospitality industry provides the supply of both goods such as food and beverages as well as services such as renting rooms.
  • Manufacturing firms are mostly engaged in the production and sale of goods.
  • The hospitality industry is exposed to seasonal factors whereas the manufacturing industry is not exposed to seasonal factors.

Verified Answer

The main difference between hospitality operations and manufacturing firms is that the hospitality industries deal with both goods and services whereas manufacturing firms deal with goods only.

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