Types Of Account Settlement: Quiz!

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| By Aoht
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Aoht
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  • 1/8 Questions

    Why might a guest use more than one settlement method to settle his or her account?

    • The guest may be traveling on business and charge business expenses to a direct bill account and pay for personal expenses with a credit card or cash. Or the guest may not have enough credit available to pay for the entire bill and therefore pay some with a credit card and the rest with cash.
    • Because the guest might be trying to even out his/her's card.
    • The guest isn't allowed to do so.
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About This Quiz

Explore different methods of account settlement in hospitality. Learn responsibilities, procedures, and the types of settlements in hotel management.

Types Of Account Settlement: Quiz! - Quiz

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  • 2. 

    To what ledger or account does the account balance go when a guest settles with a credit card?

    • It doesn't go to one.

    • Credit card account in the city or nonguest ledger

    • It goes straight to the hotel managager to get checked before anything else.

    Correct Answer
    A. Credit card account in the city or nonguest ledger
    Explanation
    When a guest settles with a credit card, the account balance goes to the credit card account in the city or nonguest ledger. This means that the payment made by the guest using their credit card is recorded in the ledger specifically designated for credit card transactions. This ledger keeps track of all credit card payments made by guests and helps in reconciling the hotel's financial records.

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  • 3. 

    What should a front desk agent do with the credit card voucher of a guest who settles in cash?

    • The front desk agent should destroy the credit card voucher.

    • Give it back.

    • Explain to the customer and keep it.

    Correct Answer
    A. The front desk agent should destroy the credit card voucher.
    Explanation
    When a guest settles their payment in cash, there is no need to keep their credit card voucher as it is no longer relevant. Destroying the voucher ensures that the guest's credit card information is not stored unnecessarily, protecting their privacy and reducing the risk of potential fraud or data breaches. Giving it back to the guest or keeping it may lead to confusion or potential misuse of the credit card information.

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  • 4. 

    The responsibility for collecting a direct billing lies with:

    • The credit or debit card company.

    • The bank.

    • The hotel.

    • The collection agency.

    Correct Answer
    A. The hotel.
    Explanation
    The responsibility for collecting a direct billing lies with the hotel. This means that the hotel is responsible for collecting payment directly from the customer, rather than through a credit or debit card company, bank, or collection agency. The hotel will typically invoice the customer for the charges incurred during their stay and follow up with any necessary collection efforts if payment is not received.

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  • 5. 

    Check-out procedures require guests to sign a voucher or folio for all of the following settlement methods except:

    • Cash payment in full.

    • Credit card payment.

    • Direct billing.

    • Combined settlement methods.

    Correct Answer
    A. Cash payment in full.
    Explanation
    Check-out procedures typically require guests to sign a voucher or folio for settlement methods such as credit card payment, direct billing, and combined settlement methods. However, cash payment in full does not require a signature on a voucher or folio, as it involves immediate payment in cash without any further documentation.

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  • 6. 

    Under which settlement method do guests need to convert their foreign currency before paying?

    • Cash payment in full

    • Credit or debit card payment

    • Direct billing

    • All of the above

    Correct Answer
    A. Cash payment in full
    Explanation
    Guests need to convert their foreign currency before paying under the settlement method of cash payment in full. This means that guests are required to have the full amount in local currency in order to make the payment. Unlike credit or debit card payment or direct billing, cash payment in full does not allow guests to use foreign currency directly for payment.

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  • 7. 

    All of the following settlement methods transfer a guest’s account balance from the guest ledger to the city ledger except:

    • Cash payment in full.

    • Credit card payment.

    • Direct billing.

    • Combined settlement methods

    Correct Answer
    A. Cash payment in full.
    Explanation
    Cash payment in full does not transfer a guest's account balance from the guest ledger to the city ledger. When a guest pays in cash, the payment is considered final and does not involve any transfer of funds between ledgers. In contrast, credit card payments, direct billing, and combined settlement methods involve the transfer of funds from the guest ledger to the city ledger to settle the guest's account balance.

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  • 8. 

    Name the four types of account settlement.

    • Cash payment, credit card, direct folding, combined settlement method

    • Debit Card, credit card, direct billing, combined settlement method

    • Cash payment, credit card, direct billing, combined card method

    • Cash payment, credit card, direct billing, combined settlement method

    Correct Answer
    A. Cash payment, credit card, direct billing, combined settlement method
    Explanation
    The correct answer is "Cash payment, credit card, direct billing, combined settlement method." This answer accurately lists the four types of account settlement: cash payment, credit card, direct billing, and combined settlement method.

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Quiz Review Timeline (Updated): Mar 20, 2022 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 20, 2022
    Quiz Edited by
    ProProfs Editorial Team
  • Jan 20, 2008
    Quiz Created by
    Aoht
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