Revenue Control and Payment Systems Flashcards
7 cards from real CPA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Revenue Control and Payment Systems flashcards as text
What is a 'ticket spitter' in parking facility terminology?
Answer: An automated device at an entry lane that dispenses a time-stamped entry ticket to drivers
A ticket spitter is the entry-lane device that automatically issues a time-stamped ticket to a driver upon arrival, recording the entry time for fee calculation.
License Plate Recognition (LPR) technology in parking payment systems is primarily used to:
Answer: Identify vehicles and link them to payment records for ticketless parking transactions
LPR systems capture a vehicle's plate as the entry credential, allowing ticketless transactions where the plate itself ties together entry time and payment.
What is the main purpose of conducting a cashier booth audit in a parking facility?
Answer: To verify that the cash, receipts, and ticket counts match and detect any variances
A cashier booth audit cross-checks cash on hand against ticket records and receipts, identifying discrepancies that may indicate error or theft.
A 'variance' in parking revenue accounting refers to:
Answer: The gap between expected revenue based on tickets issued and actual cash collected
A variance is the discrepancy between what the transaction records say should have been collected and what was actually turned in, and it must be investigated and explained.
Which of the following is a common security measure used to prevent revenue theft in parking facilities?
Answer: Installing surveillance cameras over cash drawers and conducting unannounced audits
Combining video surveillance over cash-handling areas with random, unannounced audits deters theft and quickly identifies irregularities.
How should a parking attendant handle a customer who disputes the parking fee charged?
Answer: Remain calm, explain the rate structure clearly, and escalate to a supervisor if unresolved
Attendants should use clear communication and facility rate documentation to address disputes professionally, involving a supervisor when needed to protect revenue and customer relations.
What is a 'validation' program in a parking revenue context?
Answer: A discount or subsidy offered by a nearby business to reduce or eliminate a customer's parking fee
Validation programs allow affiliated merchants or businesses to stamp, scan, or issue codes that partially or fully subsidize a customer's parking fee as a customer-service incentive.