What is a self-imposed budget? What are the major advantages of self-imposed budgets? What caution must be exercised in their use?

Answers

Answer 1

Voluntary budgeting allows executives from all departments of an organization to participate in budgeting. This type of budgeting is necessary because it creates a sense of belonging and solidarity and allows different department heads to have a say in a self-imposed budget.

Help set achievable goals: Self-imposed budgets allow different departments to be involved in the budgeting process, allowing them to set goals they know they can achieve.

Higher Levels of Commitment and Motivation: When a budget is created by one of her managers, other managers are likely to be less motivated and committed to achieving the budget than if all were involved. I have.

Peaceful Work Environment: Teamwork creates a harmonious and relaxed work environment where everyone's opinion is respected.

Accurate Cost Estimates: Helps individual department heads accurately estimate departmental costs and expenses and create more accurate budgets the major advantages of self-imposed budgets.

Managers must observe the following precautions with self-imposed budgets:

Top managers should carefully consider the input of junior managers to reduce budget slack and future liability and difficult decisions. Budget slack refers to taking too long to complete the budgeting process. Even if the top and bottom disagree, the top must keep up with budgeting.

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Related Questions

Two years ago Daniel bought 40 shares of Ford Motor Company (F) for $70 a share. The stock pays an annual dividend of $1.50. Daniel is going to sell his stock at the current market market price of $120 per share. What would his Total Return be?

Answers

Answer:

75.71%

Explanation:

Total return is a measure of all the returns that investment makes, be it interest, dividend income, capital gain, or other forms.

Total return is called using the format below.

(The asset’s value at the end – the value at the beginning year) + dividends/value of the investment at the beginning = the total return.

For Daniel, total return would be

=($120x 40)- ($70 x 40) + ($1.50 x 40 x 2)

($70 x 40)

=$4,800 - $2,800 + $120

$2,800

=$2,120/$2,800

=0.75714 x 100

=75.71%

u.s. politicians tend to have higher scores than those in the general population on such traits as all of the following except

Answers

U.S. politicians tend to have higher scores than those in the general population on such traits as political ambition, assertiveness, and leadership. These traits are often associated with individuals who pursue and succeed in political careers.

However, it is important to note that politicians may not necessarily score higher than the general population on traits such as empathy. Empathy, or the ability to understand and share the feelings of others, is a trait that can vary among individuals regardless of their profession or involvement in politics. While empathy is an important quality for effective leadership and public service, it may not always be reflected in higher scores among politicians compared to the general population. tend to have higher scores than those in the general population on such traits as political ambition, assertiveness, and leadership. These traits are often associated with individuals who pursue and succeed in political careers.

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the best way to manage issues like full-cost pricing is through . group of answer choices private corporations government non-governmental organizations individual action environmental groups

Answers

The best way to manage issues like full-cost pricing is through is private corporations

What is pricing?
Pricing, which can be a part of a company's marketing strategy, is the process by which a company determines the price at which it will sell its goods and services. When determining prices, the company will consider the cost of production, the market, the competition, the state of the market, the brand, and the quality of the product. One of the four Ps of marketing, along with product, promotion, and place, pricing is a key component of product management. The other three of the four Ps are cost centres; only price generates revenue. Other Ps of marketing will help to reduce price elasticity, on the other hand, allowing price increases to result in higher revenue and profits.

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Part II: Elastic or Inelastic?
Instructions: Determine whether the demand for the following items is price clastic or inelastic,
Write your answer on the line after the item. Then write the reasons for your answer.
A. Salt
Why?
B. New cars
Why?
C. Pork chops
Why?
D. European vacation
Why?
E. Insulin
Why?
F. Insulin at one of four drug
stores in a shopping mall
Why?
G. Gasoline purchased one day
after a 20 percent price increase
Why?
I
HL Gasoline purchased one year
after a 20 percent price increase
Why?

Answers

a. The demand for salt is price inelastic. This is because salt is considered a necessity in making meals.

b. The demand for new cars is price elastic. This is because there are many substitutes for new cars. For example, the bus is a substitute for a new car.

c. The demand for pork chops is price elastic. This is because there are many other types of foods that can be consumed instead of pork chops.

d. The demand for European vacation is price elastic. This is because vacations are not a necessity; they are a luxury.

e. The demand for Insulin is price inelastic. This is because insulin is very important to a diabetic patient

f. The demand for Insulin at one of four drug stores in a shopping mall is price inelastic. This is because consumers have choices between the four drug stores in the mall

g. The demand for gasoline purchased one day after a 20 percent price increase is price inelastic. This is because in the short run, consumers do not have enough time to search for suitable substitutes, so demand would be inelastic

h. The demand for gasoline purchased one year after a 20 percent price increase is price elastic. This is because in the long run, consumers would have enough time to find suitable substitutes.

Demand is price elastic if the quantity demanded of a good is sensitive to small changes in the price of the good

Demand is considered inelastic if the quantity demanded of a good is less sensitive to changes in the price of a good.

Factors that affect the price elasticity of demand

Time frame: demand is inelastic in the short run because consumers would not have enough time to find cheaper substitutes. In the long run, demand is elastic because consumers would have enough time to search for substitutes. Number of close substitutes : If there are many substitutes for a good, the demand for the good would be elastic. If there are no close substitutes, the demand for the good would be inelastic Nature of the good: if the good is considered a necessity, the demand for the good would be inelastic and if the good is considered a luxury, the demand for the good would be inelastic.

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Magazines make most of their money from?

Answers

Answer:

advertisers

Explanation:

There are many Magazines that are published ion the market and becomes popular. Magazines make most of their money from advertiser.

Who is advertiser?

An advertiser is the institution, administration, or any person that pays for an advertising attribute or time to demonstrate a convincing promotion or content to the public. Magazines make most of their money from by the means of advertiser.

Therefore, advertiser advertises the content to the public to publish any information.

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When bcbs payers for the primary and secondary policies are different, submit a cms-1500 claim to the primary payer, and after the primary payer processes the claim, generate a second cms-1500 claim to send to the secondary payer and include a copy of the primary payer's __________.

a. explanation of benefits
b. ub-04 or cms-1450
c. remittance advice
d. cms-1500 processed claim

Answers

You should only file one CMS-1500 claim when a single payer offers both the primary and supplementary or supplemental insurance.

What is the duration of Social Security benefits?

Although Social Security retirement payments can be accessed as early as age 62, if you don't wait to your full retirement age, your benefits will be permanently decreased. Lifetime payments are made. If your spouse's Social Security payment is greater than what you would receive on your own, you will receive roughly half of the amount they receive. Lifetime payments are made.

How do I determine the amount of my Social Security benefit?

By visiting www.socialsecurity.gov/estimator, the majority of individuals may get an estimate of their typically best on their real Social Security earnings record. Use the Social Security Retirement Calculators at to estimate your projected retirement benefits.

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ax Weber believed that bureaucracy prevents a firm from achieving a competitive advantage because it is inefficient and is plagued with management problems. Group startsTrue or False

Answers

The given statement that ax Weber believed that bureaucracy prevents a firm from achieving a competitive advantage because it is inefficient and is plagued with management problems is true.

Bureaucracy Bureaucracy is a type of organizational structure that is characterized by fixed and formal rules and procedures, hierarchical authority, and specialized roles for employees. It is a method of organization in which people, machines, and materials are coordinated to accomplish a specific objective efficiently. Max Weber, a German sociologist, developed the concept of bureaucracy in the early twentieth century.

He argued that bureaucracy is the most efficient and rational way to organize human activity. However, Weber also acknowledged that bureaucracy has several disadvantages that can prevent an organization from achieving a competitive advantage.

InefficiencyWeber claimed that bureaucracy is inefficient because it is rule-bound and lacks flexibility. Employees must adhere to strict procedures, which can cause delays and inefficiencies. Bureaucratic structures can also stifle creativity and innovation because they are resistant to change.

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Explain Market Segmentation

Answers

In marketing, market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers based on some type of shared characteristics.

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alphabet company, which uses the periodic inventory method, purchases different letters for resale. alphabet had no beginning inventory. it purchased a thru g in january at $8.00 per letter. in february, it purchased h thru l at $10.00 per letter. it purchased m thru r in march at $11.00 per letter. it sold a, d, e, h, j and n in october. there were no additional purchases or sales during the remainder of the year. if alphabet company uses the fifo method, what is the cost of its ending inventory?\

Answers

The cost of Alphabet Company's ending inventory with FIFO is $50.

As per the question, the Alphabet Company uses the periodic inventory method to purchase different letters for resale, and it had no beginning inventory. In January, Alphabet purchased letters A through G at $8.00 per letter. In February, Alphabet purchased letters H through L at $10.00 per letter. In March, Alphabet purchased letters M through R at $11.00 per letter. It sold letters A, D, E, H, J, and N in October.

There were no additional purchases or sales during the rest of the year. If Alphabet Company uses the FIFO method, the cost of its ending inventory can be calculated as follows:Alphabet Company: Calculation of ending inventory with FIFO (First In, First Out)Method Cost of sold goods on October 31, 2019= $8A + $8D + $8E + $10H + $10J + $11N= ($8 × 3) + ($10 × 2) + ($11 × 1)= $24 + $20 + $11= $55 .

FIFO of PurchasesMonthPurchasesSoldEnd of Month InventoryJanuary A, B, C, D, E, F, G - - February H, I, J, K, LA, D, E, H, J (5 letters)I, K, L (3 letters)MarchM, N, O, P, Q, RA, D, E, H, J, N (6 letters)M, O, P, Q, R (5 letters)Calculation of ending inventory= Cost of 5 letters (I, K, L, M, O) remaining in inventory on October 31, 2019= $10 × 5= $50Therefore, the cost of Alphabet Company's ending inventory with FIFO is $50.

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Which statement describes the effect of taxes on a traditional 401(k) retirement account?
A.
A traditional 401(k) is tax exempt because the income earned isn't taxed until the money is withdrawn.
B.
A traditional 401(k) is a taxable account because the income earned is taxed when it is contributed.
C.
A traditional 401(k) is tax deferred because the income earned isn't taxed until the money is withdrawn.
D.
A traditional 401(k) is tax exempt because the income earned is never taxed.

Answers

Answer:

A traditional 401(k) is tax deferred because the income earned isn't taxed until the money is withdrawn.

Explanation:

There are two types of 401 k plans: traditional 401k and Roth 401k plans. The difference is the way there are taxed.

The traditional 401k plan is an employer-sponsored retirement scheme. The employer withholds the employee contributions and remits the funds to the employee's 401k savings account. The amount deducted as the employee contribution is not subject to taxation at that point. Contributions to 401k plans reduce the employee's taxable income.

The amounts saved in a 401k plan are invested and generate income. Employees are not expected to pay taxes on the income generated every financial period. All taxes are deferred until the time of withdrawal.

Answer:

C. A traditional 401(k) is tax deferred because the income earned isn’t taxed until the money is withdrawn.

Explanation:

PLATO

Which statement describes the effect of taxes on a traditional 401(k) retirement account?A.A traditional

rank from highest credit risk to lowest risk the following bonds, with the same time to maturity, by their yield to maturity: (rank: 1 = highest, 4 = lowest)

Answers

The following bonds, with the same time to maturity, should be ranked from highest credit risk to lowest risk by their yield to maturity: (rank: 1 = highest, 4 = lowest)Corporate bonds, municipal bonds.

They are issued by corporations, which are more likely to default on their obligations. As a result, the yield on corporate bonds is higher than on other types of bonds. Municipal bonds have a lower credit risk than corporate bonds. they are considered less risky than corporate bonds.US government bonds have even lower credit risk than municipal bonds. These bonds are issued by the federal government, which has the power to tax and print money. Foreign government bonds have the lowest credit risk. They are issued by foreign governments, which have varying degrees of stability and financial strength.

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Yong teaches students with learning disabilities and physical disabilities. Barb teaches computer programming to high school students. Maya works in a private school teaching math to seventh-grade students. Destiny works in a college teaching English to adult students. Tanner helps an elementary school teacher and works under the guidance of that teacher.

Answers

1. Special education teacher
2. Career and technical education teacher
3. Middle school teacher
4. Post secondary teacher
5. Teacher assistant

Answer:

1. Special education teacher

2. Career and technical education teacher

3. Middle school teacher

4. Post secondary teacher

5. Teacher assistant

Explanation:

which method is approved by income tax authorities for charging depreciation

Answers

Answer:

The straight-line method

Explanation:

The simplest and most commonly used way to calculate depreciation under generally accepted accounting principles.

which global entry strategy has the highest degree of risk?

Answers

Which global entry strategy has the highest degree of risk? Direct investment requires the highest level of investment and exposes the firm to significant risks, including the loss of its operating and/or initial investments.

Suppose you would like to pay for a course to improve your job skills, a new computer to replace your old one, and a new TV. You do not have enough cash, so you consider taking out a loan to buy at least one of them. Which one would be the best use of credit? Which would be the least wise use of it?

Answers

The best use of credit is to pay for a course to improve your job skills. The least use of credit would be to buy a new TV.

Why is improving job skills important?

The ability to improve characteristics and qualities necessary for efficient workplace performance makes skill development significant. By honing these abilities, you can also start along the road to personal growth, which can help you reach your potential and advance professionally quickly.

Employing their abilities more effectively increases a worker's likelihood of being happier at work, earning more money, and being better able to adjust to changes in the nature of their employment.

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All of the following statements are true about cost-plus regulation except: a. With cost-plus regulation, the government determines a normal rate of profit for the firm's industry. b. With cost-plus regulation, the government takes into consideration the firm's average costs. c. With cost-plus regulation, the government sets a price that can change over a period of time, like a year. d. With cost-plus regulation, the government sets the price level several years in advance.

Answers

The statement that is not true about cost-plus regulation is (d). With cost-plus regulation, the government does not set the price level several years in advance.

Cost-plus regulation involves the government setting a price for a good or service based on the firm's average costs, plus a normal rate of profit for the industry. This price can change over time, such as on an annual basis. However, the government typically does not set the price level several years in advance. Instead, the price is adjusted periodically based on changes in the firm's costs and the industry's normal rate of profit.

Cost-plus regulation involves the government determining a normal rate of profit for the firm's industry (a), taking into consideration the firm's average costs (b), and setting a price that can change over a period of time, like a year (c). However, it does not involve setting the price level several years in advance (d), as the main goal is to allow adjustments based on cost variations and market conditions.

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Francisco started a new job and wants to open a retirement account. He has heard about 401k and 403(b) accounts for retirement. His new job will only allow him to have a 403(b) account. What is the MOST likely reason for this? A. Francisco is a salesperson at a clothing shop. B. Francisco is a CEO of a Fortune 500 company. C. Francisco is a government employee. D. Francisco is an investment banker.

Answers

The MOST likely reason for Francisco's new job allowing him to have only a 403(b) retirement account is C. Francisco is a government employee.

Francisco, as a government employee, may be working in a public school. Under section 501(c) of the IRS code, Francisco's organization is a nonprofit, which is tax-exempt.

Thus, the main reason that Francisco can open a 401(k) but a 403(b) retirement account is because he is working in a 501(c) tax-exempt organization.

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Francisco is a government employee.

Francisco started a new job and wants to open a retirement account. He has heard about 401k and 403(b)

Which type of account (real, personal, or nominal) includes the following expenses of a business?
Expenses like rent, transportation, and advertising are part of a business’ ______
account, because they are fictitious.

Answers

Answer: Nominal account

Explanation:

Expenses like rent, transportation, and advertising are part of a business (Nominal) account, because they are fictitious.

Personal accounts are the accounts that have to do with individuals, or businesses. A real account is an account that isn't closed when the accounting period ends. The bqlnaces in the real account are carried to the following period. An example of this is cash.

Nominal account is an account that has a zero beginning balance at the start of the year. This is because when an accounting year ends, the nominal account will be closed.

For all the women out there, what do y'all like a men to do for you for your birthday?
Just wondering because it's my girls birthday today and I what to surprise her with something good. Help me please.

Answers

Answer:

I'd like gifts or just spending more time with my partner, foods fine

Explanation:

Girls don't expect much and if you are willing to spend time and give a small gift, that's all

Be23.7 (lo 3) moxley corporation had january 1 and december 31 balances as follows. 1/1/20 12/31/20 inventory $95,000 $113,000 accounts payable 61,000 69,000 for 2020, cost of goods sold was $500,000. compute moxley's 2020 cash payments to suppliers.

Answers

Moxley Corporation's cash payments to suppliers in 2020 can be computed by determining the change in accounts payable and adding it to the cost of goods sold.

How can Moxley Corporation's cash payments to suppliers in 2020 be calculated?

To calculate Moxley Corporation's cash payments to suppliers in 2020, we start by finding the change in accounts payable. This is done by subtracting the accounts payable balance at the beginning of the year (January 1) from the accounts payable balance at the end of the year (December 31). In this case, the change is $69,000 - $61,000 = $8,000.

Next, we add the change in accounts payable to the cost of goods sold. The cost of goods sold for 2020 is given as $500,000. Therefore, the cash payments to suppliers can be calculated as $500,000 + $8,000 = $508,000.

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Business Math!

Your budget says that savings should be 11% of income. If you earn $1,500.00 a month, how much should
you save in a year?
$1.880.20
$1,880.00
$1,780.00
$1,980.00

Answers

Answer:

$1,980.00

Explanation:

$1,500.00 * 0.11 = $165.00

$165.00 * 12 months = $1,980.00

You should save $1,980.00 in a year.

Someone Help This Is Due today !!!!
Match the Professionalism term with its meaning
1.
Accountability

2.
Integrity

3.
Punctuality

4.
Productivity

5.
Initiative

a.
doing your job as efficiently and effectively as possible
b.
doing the right thing, even when no one is watching
c.
being responsible for your actions and words
d.
being on time
e.
to take charge or do things without being told

Answers

Answer:

Number 1

Explanation:

Number 1 is correct

Lin Corporation has a single product whose selling price is 120 and whose variable expense is 80 per unit. The company's monthly fixed expense is 50,000 .
(b) Using the formula method, solve for the unit sales that are required to earn a target profit of 15,000.

Answers

Using the formula method, the unit sales that are required to earn a target profit of 15,000 is 1625 units.

Given information:

selling price = $120 per unit

variable expense = 80 per unit

monthly fixed expenses = $50,000

And target profit = $15,000

The contribution margin per unit is to be calculated first for the formula method.

Therefore, contribution margin per unit = selling price per unit - variable expense per unit

Substituting the values in the above formula we get,

contribution margin per unit = $120 - $80

= $40 per unit

Using the formula method to calculate the units sold to achieve target profit is,

Units sold for profit = (fixed expenses + target profit)/contribution margin per unit

Substituting the values in the above formula we get,

Units sold for profit = ($50000 + 15000)/$40

= $65,000/$40

= 1625 units

Hence, 1625 units should be sold to achieve the target profit of $15,000.

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How do companies research potential new markets? Choose a global company who has a record of successful new market entry and explain why it has had this success, and consider also the reasons for any failures.

Answers

Explanation:

Companies search for potential new markets by collecting consumer data to understand their opinions, wants and needs, and then being able to enter a new market with a safe and effective strategy to generate profits and successes. Data collection occurs in the form of primary and secondary research. The primary research takes place directly with the consumer, it can be carried out in the form of focus groups, which is a direct analysis of the market demand researched by the consumer.

As for secondary research, information is received through third parties, such as online sites, trade associations, etc., which give an idea of market behavior.

IKEA in China is an example of a global company that entered a different market in the form of strategic adaptation to meet the needs of the Chinese, through ideas and concepts aimed at this public.

which of the following is a workplace trend?
A - decreased outsourcing
B - decreased attention to diversity
C- increased use of manual labor
D - increased technology literacy

Answers

Answer:

increased use of manual labor

Explanation:

Advancement in technology has resulted in machines taking over manual jobs. A few decades ago, manual work was done by human beings exclusively. Industries hired many laborers to assist in many aspects of the business. Today, machines and robots are deployed in different sectors of the economy.

The current trend is the workplace is the use of modern technology. Computers, machines, and robots are gradually replacing people, mostly unskilled and manual laborers.

Detailed categories on your budget will help you make better spending decisions.
Pilihan jawaban
True
False

Answers

Yes, classifying your spending can help you manage your budget more successfully. You may utilise the specific categories listed below to help you keep track of your spending: Housing: Your rent or mortgage

A budget is a financial plan that lists your sources of income and outlays for a certain time period, usually monthly or annually. For controlling your own finances and making sure you are living within your means, it is an essential tool. You may prioritise your spending, spot areas where you could be overspending, and establish financial objectives for the future by creating a budget. A solid budget should be thorough and realistic, accounting for all of your costs and revenue streams. To make sure that your budget continues to be useful in helping you reach your financial objectives, it is vital to evaluate and modify it on a regular basis.

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The ledger of cullumber company contains the following balances: owner's capital $ 30,700. owner's drawings $ 1,700, service revenue $ 49,000, salaries and wages expense $ 26,500, and supplies expense $ 6,100. prepare the closing entries at december 31. (credit account titles are automatically indented when amount is entered. do not indent manually. if no entry is required select "no entry for the account titles and enter for the amounts:) date account titles and explanation debit credit dec. 31 (to close revenue account) dec. 31 (to dose expense accounts) dec. 31 (to close net income (loss)) dec. 31