1. Identify the true statement regarding budgets: A. The most common length of time for a budget is 18 months. B. The budget development process for the coming year usually starts several weeks before the current year-end. C. Another term for the bottom-up budget development approach is "participative budgeting". D. The majority of small businesses (500 employees or less) do prepare annual budgets.
2. Master budgets: A. Contains two classes of budgets-operating and financial budgets. B. Is a set of interrelated individual budgets that constitute a plan of action for a specified time period. C. The term "budget" is actually a shorthand term for a company's "master budget. D. All of the above statements are true regarding master budgets.
3. Identify the item that would not appear on a cash budget: A. Income tax expense B. Depreciation expense C. Payments for material purchases D. Cash dividends
4. Identify the false statement regarding the production budget: A. A realistic estimate of ending inventory is essential in scheduling production requirements. B. Will show the number of units of a product to produce in order to meet anticipated sales. C. Is prepared before the Selling and Administrative Expense Budget. D. Is calculated by taking the Budgeted COGS + Desired Ending Finished Goods Units - Beginning Finished Goods Units.
5. A company reports the following information from its sales account and sales budget: Sales May June $852,000 47,000 Expected Sales: July August September 845,000 55,000 60,000 Cash sales are normally 30% of total sales and all credit sales are expected to be collected in the month following the date of sale. The total amount of cash expected to be received from customers in September is: A. $56,500 B. $60,000 C. $55,000 D. $58,500
Answers
1- Another term for the bottom-up budget development approach is "participative budgeting" is the true statement.2-master budget contains all of the following.3-Depreciation expense would not appear on a cash budget.4 . A realistic estimate of ending inventory is essential in scheduling production requirements is a false statement
A budget is a financial document that is used to forecast future earnings and expenses. Simply put, a budget anticipates future savings and spending as well as anticipated income and expenses. The master budget will show all of the details of the company's income-generating actions via the operating budget, along with a revenue and expense breakdown. It will also show cash inflows and outflows from the cash flow statement, as well as estimates of what will appear on the balance sheet at the end of the fiscal period. A master budget combines all of your company's smaller budgets into one overall budget, allowing you to get a complete picture of your company's finances.
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Related Questions
Which of the following is the strongest differentiator for brick-and-mortar stores who want to emphasize their superiority over online retailers?
generating information
Direct Product Profitability (DPP)
the shopping experience
Answers
The shopping experience is often considered the strongest differentiator for brick-and-mortar stores compared to online retailers.
While online shopping offers convenience and accessibility, physical stores have the advantage of providing a unique and immersive shopping experience. In-store shopping allows customers to physically interact with products, try them out, receive immediate assistance from sales staff, and engage in personal interactions.
The ambiance, customer service, sensory elements, and social aspects of the physical shopping environment contribute to a more holistic and enjoyable experience that online retailers may struggle to replicate.
By focusing on creating memorable and enjoyable shopping experiences, brick-and-mortar stores can emphasize their superiority over online retailers and attract customers who value the in-person retail experience.
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1. The advantages that society gains through trade lie in the ability to: (choose all that apply)
a.) specialize resources to the uses where opportunity cost is minimized
b.) Obtain absolute trade with other nations
c.) Refine tasks associated with production
Answers
The advantages that society gains through trade lie in the ability to **obtain absolute advantage** with other nations and **refine tasks** associated with production.
Trade allows nations to focus on producing goods and services in which they have an absolute advantage, resulting in increased efficiency and lower costs. By specializing in specific tasks or industries, countries can allocate their resources more effectively and maximize productivity. Through trade, nations can obtain goods and services that would otherwise be difficult or costly to produce domestically, leading to an overall improvement in living standards and economic growth. Additionally, refining tasks associated with production enables countries to develop expertise, enhance skills, and foster innovation within their industries, ultimately contributing to global economic development.
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as part of a team you are assigned to create appointment to report one of your asses to put people together and another team sent them to you you already have the title page summary and introduction in the place next you should put the A.table of contents B.appendices C.main body D.conclusion and recommendation
Answers
Answer: C.
Explanation:
Supply-side policies have proven that smaller government makes the economy more efficient. Select one: True False
Answers
Answer:
The given statement is "False".
Explanation:
Supply-side policies include those strategies that increase the economic ability of an enterprise as well as the ability to manufacture. To increase supply-side efficiency, there are also many specific steps that somehow an authority may undertake. Any strategy that increases the economic capacity of a nation's infrastructure and therefore its ability to transfer should be under the supply-side legal framework.Which of these is true about the national unemployment rale!
A. All citizens are included in the labor force.
B. All people 18 years or older are counted as part of the labor force.
C. It is always at 6%.
D. It is never at zero.
Answers
Answer:
D. It is never at zero.
Explanation:
The unemployment rate is described as the percentage of the labor force that is jobless but actively seeking work. The labor force comprises an adult population that is currently working or seeking employment.
The unemployment rate is never at zero. At every moment, there is frictional unemployment as people switch jobs or new college graduates seeking their first job. There is also unemployment due to economic seasons. Even when the economy is considered to be at full employment, the unemployment level is not at zero but at around 3 to 5 percent.
KNOWLEDGE CHECK A rise in which of the following inputs will increase an absolute valuation? o Beta o Earnings estimates o Number of shares o 10-year government bond yield
Answers
A rise in earning estimate will lead to an increase of absolute valuation.
What is an absolute valuation?An absolute value refers to the method of business valuation which uses a discounted cash flow analysis to determine a company's financial worth. With this value, an investors can determine if a stock is currently under or overvalued by comparing what a company's share price should be given its absolute value to the stock's current price.
An earnings estimate means an analyst's forecast for a public company's future quarterly or annual earnings per share (EPS). Large share of the investors relies on earnings estimates to gauge a company's performance and make investment decisions about it.
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Apples are selling for .15 cents per apple. The amount you buy is 823 apples, and you decide to sell those apples for .75 cents per apple. What is the total revenue for selling these apples?
Answers
Answer:
123.45 cents
Explanation:
Revenue = price per unit x quantity sold
0.15 x 823 = 123.45
The four elements commonly found on a system request are _____.a. economic, organizational, technical, and operational feasibilityb. project sponsor, business need, business requirements, and business valuec. risk analysis, familiarity, project size, and cost-benefit analysisd. training, software, installation, and equipmente. upgrades, licensing fees, repairs, and charges
Answers
The correct option is (b). The four elements commonly found on a system request are project sponsor, business need, business requirements, and business value.
When submitting a system request, it is important to include certain elements to ensure that the project is feasible and meets the needs of the business. These elements typically include the project sponsor, who is the person or group responsible for overseeing the project; business need, which outlines the specific problem or opportunity that the project is intended to address; business requirements, which detail the specific features and functionalities needed in the new system; and business value, which demonstrates the benefits that the new system will bring to the organization.
By including these four elements in a system request, stakeholders can ensure that the project is well-defined and aligned with the goals and objectives of the business. This can increase the likelihood of project success and lead to greater value for the organization.
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Conciliation differs from arbitration in that:________.
a. the conciliator is a neutral third party.
b. the conciliator's goal is to provide a solution to the dispute.
c. the conciliator's solution is legally binding on both the union and management.
d. the conciliator is a member of the union or of management.
e. the conciliator has no formal power over union representatives or management.
Answers
Answer:
I think answer is a.the concilliator is a neutral third party
How is planning made and why is it important
Answers
Answer:
planning
Explanation:
it Helps to Set the Right Goals
In particular, planning helps to critically assess the goal to see if it's realistic. It facilitates decision making and allows setting a time frame by predicting when the company can achieve its goal
An experiment must have a placebo group in order to be valid.a. Trueb. False
Answers
Answer: True
Explanation:
Which trend will expand demand for industrial goods and business services in latin america?
Answers
The trend that will expand demand for industrial goods and business services in Latin America is urbanization. Urbanization refers to the process of population migration from rural areas to urban areas, resulting in the growth of cities and towns.
As more people move to cities in Latin America, there is an increased need for infrastructure development, such as housing, transportation, and utilities. This, in turn, drives the demand for industrial goods, including construction materials, machinery, and equipment. Additionally, urbanization leads to the growth of businesses and industries, creating a demand for various business services like logistics, finance, and marketing.
For example, as more people move to cities, the construction industry experiences a surge in demand for materials like cement, steel, and glass. Similarly, logistics services are required to transport goods efficiently within urban areas.
In summary, the trend of urbanization in Latin America is expected to expand the demand for industrial goods and business services as cities grow and develop.
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why would foreign firms export a product at less than its cost of production—which presumably means making a loss?
Answers
A lot of countries engage in bad planning, which causes them to produce an excess of goods that they must sell at a loss.
What does it imply when one nation "dump" its goods into another?When an exporter sells a good at a lower price outside of their own nation, this is known as "dumping." Exporters oversupply the importing nation's market with goods at sharply reduced prices, forcing the importing nation's rival enterprises out of business.
Quota in Economics: What Does It Mean?Quotas are the time-bound trade limitations that governments set. Typically, this is done to safeguard local businesses, support them, and maintain trade balance. Governments put restrictions on the amount or number of exports to impose quotas.
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when a business records accrued interest expense on a note payable ________.
Answers
When a business records accrued interest expense on a note payable, Interest Payable is credited.
What is interest payable ?The amount of interest expenditure that has accrued to date but has not been paid as of the balance sheet date is represented by the liability account known as Interest Payable on a company's balance sheet. In a nutshell, it shows how much interest is still owed to lenders. The amount that a person or business owes a lender at a specific period but hasn't yet paid is known as interest payable.
This means that accrued interest expense can fall under interest payable if it is accrued to a note payable, because a note payable is a liability account.
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is the management function that involves allocating resources, assigning tasks, and establishing procedures for accomplishing the organizational objectives.
Answers
Answer:
Organizing.
Explanation:
Organizing can be defined as a strategic process in which resources are assembled and human efforts are coordinated and then integrated into a unitary system so as to achieve organizational goals and specified objectives.
Generally, organising helps to create order in an organization by eliminating chaos, and work conflicts. Also, it enhances job specialization and responsibility sharing by creating an environment that is suitable for teamwork.
For example, the manager of a business firm that made two or more coordinators to take care of activities relating to registration and refreshment at an annual general meeting (AGM).
In conclusion, organizing is a management function and it's is largely dependent on allocating resources, assigning or delegating tasks to others, and establishing procedures (policies) for accomplishing the organizational objectives.
Which type of insurance can help provide financial support to beneficiaries when someone dies?
Collision
Health
Life
Property
Answers
The type of insurance that can help provide financial support to beneficiaries when someone dies is Life Insurance.
This is because Life insurance is a type of insurance in which the surviving dependents of the person whose life is insured get financial supports following the death of an insured policyholder.
In a Life Insurance deal, the surviving dependents usually get a certain amount of money, often termed a death benefit.
The surviving dependents must, however, be named the life insurance policy before he or they can reap the benefits.
Hence, in this case, it is concluded that the correct answer is Life Insurance.
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The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Sales $ 1,260,000 Selling price per pair of skis $ 450 Variable selling expense per pair of skis $ 50 Variable administrative expense per pair of skis $ 19 Total fixed selling expense $ 155,000 Total fixed administrative expense $ 105,000 Beginning merchandise inventory $ 70,000 Ending merchandise inventory $ 105,000 Merchandise purchases $ 285,000 Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin per unit?
Answers
Answer:idk I’m sorry bud
Explanation:
have my points uf7ttg vgh
Answers
Answer:
thanks
Explanation:
Pharmakia is a company that develops and manufactures prescription medicines. Recently, pharmakia has been unable to obtain ingredients key to its medicines, is facing rapidly increasing labor costs, and is paying high tariffs when exporting its medicines. To mitigate these difficulties, pharmakia should consider becoming a:.
Answers
To mitigate the difficulties of not being able to obtain essential ingredients for the production of its medicines, facing high labor costs and paying high export tariffs, Pharmakia should consider becoming a countertrade.
What is countertrade?Corresponds to the reciprocal exchange of goods and services through international trade without the use of hard currency. It is a strategy generally used in developing countries, and its advantages are increased industrial growth and access to different items and raw materials.
Therefore, if Pharmakia becomes a countertrade, it can obtain the necessary resources for the production of its medicines in exchange for supplying them to a country through barter, reducing its costs and tariffs.
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Which of the following is NOT a design feature of effective internal controls? 21 Multiple Choice pints 2 00:58:29 Allow greater reliance by investors on reported financial statements C Prevent fraudulent or errant financial reporting. O Ensure the company's price advantage over competitors, Ensure the comper
Answers
Ensure the company's price advantage over competitors.
Effective internal controls primarily focus on ensuring the reliability and accuracy of financial reporting, preventing fraudulent activities, and safeguarding the company's assets. While maintaining a price advantage over competitors is important for business success, it is not typically considered a design feature of internal controls. Internal controls are primarily concerned with financial reporting integrity and risk mitigation rather than pricing strategies or competitive advantage.
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According to the fdic community banks have less than what in assets than most cases
Answers
According to the FDIC, community banks have less than $ 10 million in assets in most cases.
An asset refers to economic or financial bonds that can act as benefits and rewards in the future. A community bank refers to a banking institution that is locally owned and looked over. It is not an official banking system. The local community looks after the finance, transactions, and loans.
FDIC stands for Federal Deposit Insurance Corporation. It looks after the supply of insurance deposits and looks after the safety and security of the deposits. This institution works with two agencies- American depository institutions and the National Credit Union Administration.
According to the definitions created by FDIC, any bank containing less than $ 10 million in assets is known as a community bank.
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In one of her weekly live videos, the Federal Reserve Chairman remarked that inflation had begun to tick upward. However, unemployment in the U.S was still quite high and economic growth had slowed. With short-term interest rates close to 0 (zero), the Chair did not visualize that ____________ policy would be able to do anything for the high unemployment problem. She felt that _______ policy would be more useful for bolstering employment, but that would require local and state governments and the federal government to provide tax breaks for corporations.
Answers
Answer:
Monetary, Fiscal
Explanation:
Interest rate can be easily be said to be the amount due on an a loan. Monetary policies usually involve rules and regulation regarding money and how it affects the economy and sub-sections of the economy.
In the question, monetary policy h nothing to do to the state of unemployment in the US since no unemployed persons can be taking loans as there would not be a means to pay back.
Fiscal policy on the other hand can be defined as the use of a government's revenue collections and expenditure to influence an economy. This means that the government of any country uses collections such as taxes or tax cuts to improve the situation of the country.
From the above question, a fiscal policy can be used to tackle the unemployment in the US as the government can channel its expenditure and collections to the creation of jobs through establishment of companies and other opportunities.
Cheers.
to calculate your monthly lease payment on a three-year lease using the "residual value" of a $26,500 MSRP car, subtract the 48% residual value from the MSRP and divide the result by the number of agreed upon months. What is the approximate monthly payment on a three-year lease agreement?
Answers
Answer:
The approximate monthly payment is $383
Explanation:
Here, we want to calculate the approximate monthly payment on a 3-year lease agreement and we have been told what to do in the question.
Firstly, we start off by subtracting 48% residual value from the MSRP
48% of 26,500 = 48/100 * 26,500 = $12,720
We subtract this from $26,500
That will be $26,500 - $12,720 = $13,780
We have 3 years and that is 36 months
So the approximate monthly payment will be;
$13,780 / 36 = 382.7777777777778 which is approximately $383 to the nearest whole digit
Contribution margin is:
A) Revenues divided by fixed costs
B) Revenues minus variable cost
C) Revenues plus variable cost
D) Net Sales
E) None of these
Answers
The correct answer for the definition of contribution margin is B) Revenues minus variable costs.
Contribution margin is the amount of revenue that remains after deducting the variable costs associated with the production or sale of a product. It is a useful tool for determining the profitability of individual products or services, as it helps to assess the amount of revenue that contributes towards covering the fixed costs of a business.
By calculating the contribution margin, a business can determine the level of sales volume required to break even or generate a profit. This information is important for making strategic decisions regarding pricing, cost management, and product mix.
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Prices are rising (inflation) but wages have stayed the same. This makes it difficult for people to afford products they need.
What can the government do to help with this problem?
Does this expand or contract the government - explain?
Answers
Answer:
Its up to the government
Explanation:
We cant do things for them but we can make them consider what we could do
Answer:
yes it expands.
Explanation:
it's obvious
5. You purchase your daily
coffee at the chemist’s coffeehouse and have a choice of two cups
with different specific heat capacity. Which cup will you choose,
the cup with a low specific or the cu
Answers
You would choose the cup with a low specific heat capacity.
Specific heat capacity refers to the amount of heat energy required to raise the temperature of a substance by a certain amount. In the context of coffee cups, a cup with a low specific heat capacity means that it heats up or cools down quickly in response to changes in temperature.
When you purchase your daily coffee, you likely want to enjoy it at an optimal temperature for a longer period. By choosing a cup with a low specific heat capacity, it will absorb less heat from the coffee, allowing it to stay hot for a longer time. The cup will also cool down faster when exposed to the surrounding environment, preventing your coffee from becoming lukewarm too quickly.
On the other hand, a cup with a high specific heat capacity would absorb more heat from the coffee, causing it to cool down rapidly. This would result in your coffee becoming cold faster, making it less enjoyable to drink.
Therefore, opting for a cup with a low specific heat capacity would be more advantageous as it helps maintain the desired temperature of your coffee for a longer duration.
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Betty works for softmac. it has more than a million employees, global locations, a ceo, and a board of directors. Betty most likely works for a?
Answers
Betty, being an employee of Softmac, is likely working for a large multinational corporation. Softmac's characteristics of having more than a million employees, global locations, a CEO, and a board of directors are indicative of a substantial organization with a wide-reaching presence.
Being a global company suggests that Softmac operates in multiple countries or regions, and the large employee count indicates a significant workforce. The presence of a CEO and a board of directors implies a structured corporate governance system, where strategic decisions are made at the executive level and overseen by the board.
Given the scale and complexity of Softmac's operations, it is reasonable to infer that Betty's role within the organization is likely within a specific department or division, contributing to the overall goals and objectives of the company. Her responsibilities could vary depending on her position and area of expertise, contributing to the company's operations, projects, or specific functional areas such as marketing, finance, human resources, or technology.
In summary, Betty's affiliation with Softmac suggests that she is part of a large, globally operating corporation with a formal management structure and a wide range of career opportunities.
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You are an active trader in the bond market. You are evaluating all of the bonds issued by Spice Trading, Inc. One bond has a face value of $1,000 and 6.9% annual rate coupons, that are paid twice a year. This particular bond was issued as a 14-year bond, one year ago If the current YTM for bonds like this is 5,5%, what is the current price (Do not round Intermediate calculations and round your answer to 2 decimal places, eg, 12.34.) Current bond price
Answers
The current price of the bond issued by Spice Trading, Inc. is $1,209.75. This price is determined by discounting the future cash flows of the bond, including the semi-annual coupon payments and the face value, using the yield to maturity (YTM) as the discount rate.
To calculate the current price of the bond, we need to discount the future cash flows generated by the bond, which include both the periodic coupon payments and the face value. The bond has a face value of $1,000 and pays semi-annual coupons at a rate of 6.9% per year.
The bond was issued as a 14-year bond one year ago, which means it has 13 years remaining until maturity. Since the coupons are paid semi-annually, the total number of coupon payments over the life of the bond is 13 * 2 = 26.
The yield to maturity (YTM) for bonds similar to this one is given as 5.5%. We use this YTM to discount the future cash flows. To calculate the present value of the bond, we discount each semi-annual coupon payment and the face value using the YTM as the discount rate. The formula to calculate the present value of a bond is:
Bond Price = (C/r) * [1 - (1 / (1+r)ⁿ )] + (F / (1+r)ⁿ )
Where C is the coupon payment, r is the discount rate (YTM), n is the total number of periods, and F is the face value.
By substituting the given values into the formula, we can calculate the bond price. Plugging in C = $1,000 * 6.9% / 2 = $34.50, r = 5.5% / 2 = 0.0275, n = 26, and F = $1,000, we find that the current price of the bond is $1,209.75.
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The SmartArt icon will allow you to include which of the following on a slide?
Answers
I think the answer is Graphs, I hope this helps
The ___________ is the head of the finance group doing
accounting functions.
Group of answer choices
tax accountant
controller
financial analyst
auditor
Answers
The controller is the head of the finance group doing accounting functions.
The controller a crucial position in the finance division is in charge of supervising and controlling accounting operations. They are essential to decision making and financial management. The controller is in charge of keeping accurate financial records, creating financial statements, managing budgets and making sure that financial rules and reporting requirements are followed.
They collaborate closely with the other finance team members to analyze financial data offer analysis and suggestions and add to strategic planning. During financial audits the controller also works with outside auditors. Their proficiency in accounting principles, financial analysis and reporting enables them to offer insightful financial information that will support sound decision making and uphold the organization's financial integrity.
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