City-ledger receivables must be audited more frequently and more promptly than an audit for transient receivables.

Question

Quizplus · Accepted Answer

City-ledger receivables and transient receivables are both important for a hotel's financial management, but there is no universal rule that city-ledger receivables must be audited more frequently or more promptly than transient receivables. The frequency and promptness of audits depend on the hotel's policy, the volume of transactions, and the perceived risk associated with each type of receivable.

City-Ledger Receivables Must Be Audited More Frequently and More Promptly