DECA Facts
Where is the State Competition Located
SEP Highschool
What are the four P's of marketing
Place, Product, Promotion, Price
Assets - Liabilities = ?
Owner's Equity
What is one characteristic of an entrepreneur
Innovative, Risk-taking, Self-motivated, Resilient, Adaptable, etc
A rating system often used to measure the quality of a hotel’s facilities and services (shape)
Star rating system
Atlanta
What does SWOT stand for?
Strength Weakness Opportunity Threat
If your house is worth 400,000 and you owe 300,000 do you have home equity
Yes
What is the difference between a public and a private company
Public - A business that sells shares of stock to the general public and is traded on a stock exchange
Private - A business that is owned by individuals or a small group and does not sell shares to the public.
This skill is essential for hospitality workers to resolve guest complaints effectively
communication or problem-solving
How many members are in the Bondu DECA chapter
35
What does PEST stand for?
Political, Economic, Social-cultural, and Technology
Which financial statement shows a company’s assets, liabilities, and equity at a specific point in time
Balance Sheet
What is an LLC?
Limited Liability Company
What is conservation
The careful protection, management, and wise use of natural resources
How many members are in DECA nationally? (Round to the nearest hundred thousand)
300,000
How do you divide big markets into smaller target groups?
Market Segmentation
What is the accounting term for a chronological record where every financial transaction is first recorded
Journal
What is a sole proprietor
A business owned and operated by one person, with no legal separation between the owner and the business.
Who is always right?
The Customer
When was DECA founded
1946
What is the difference between stockholders and stakeholders
Stockholders own shares (equity) in a company
Stakeholders are anyone with an interest in or affected by a company's actions
What are the three main financial statements
income statement, balance sheet, and cash flow statement
What document outlines goals, strategies, and financial projections for a new business before it is opened?
Business Plan
This type of hotel offers luxury accommodations, personalized service, and often unique themes
Boutique Hotel