These are the major functions of a night audit except:

STEPS IN THE NIGHT AUDIT PROCESS

1. 1. Reconcile room status

2. 2. Verify room rates

3. 3. Total outstanding charge posting

1. 4. Verify no-shows of the day

5.Balance all departmental accounts

Night Audit Room details report captures the total number of rooms and their total guests under each category such as occupied rooms, available rooms, day-use rooms, etc., for the day.

It changes translate into changes in consumer demand for both industrial and consumer products and services.

It entails firms striving to compete in attractive industries, avoiding weak or faltering industries, and gaining a full understanding of key external factor relationships.

It identifies a firm’s major competitors and their particular strengths and weaknesses about a sample firm’s strategic position.

It is a systematic and ethical process of gathering and analyzing information about the competition’s activities, and general business trends to further a business’s owns goals

It allows strategists to summarize and evaluate economic, social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive information.

FIRMS AFFECTING FIRM PERFORMANCE except:

It is a widely used approach for developing strategies in many industries.

PORTER’S FIVE-FORCES MODEL are the following except:

An important part of an external audit is identifying rival firms and determining their strengths, weaknesses, opportunities, threats, objectives, and strategies.

Quantitative forecasts are the most appropriate when historical data are available and when the relationships among key variables are expected to remain the same in the future.