QUESTION 7 Briefly describe what a Static Budget is and briefly discuss what a Flexible Budget is. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph V Arial 10pt 3 v A v V Tx X 4
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A static budget refers to a financial plan that is based on a fixed level of activity. It is usually prepared at the beginning of a period and remains unchanged regardless of the level of activity or performance or production actually achieved. In other words, static budgets do not adjust to changes in business conditions such as sales volumes or any other factor that can affect income or expense.
A flexible budget refers to a financial plan that can be adjusted based on the level of activity. It is a dynamic budgeting approach that takes into account fluctuations in sales volumes, cost trends and any other factors affecting business operation. It can adapt to changing business conditions and provide more accurate and relevant picture of financial performance by comparing actual results to budget amounts based on activity levels achieved.
Overall, static budgets are fixed and do not change regardless of activity levels whereas, flexible budgets are adjusted based on activity levels to provide more accurate and true assessment of financial performance.
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Related Questions
franchises will generally have higher ____, but they offer ongoing support and training.
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Franchises will generally have higher direct financing but they offer ongoing support and training.
What is the meaning of financing?Finance is the study and practice of money, money-related instruments, and capital assets. It is associated with economics, which refers to the study of the creation, transfer, and consumption that money, assets, goods, and services, but it is not the same as economics.
The process of raising capital or finances for any type of spending is known as financing. It is the act of directing various financial resources—such as credit, loans, and invested capital—to those parts of the economy that need them most or can use them most effectively.
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Acme, Inc. had net income of $120,000 in its 1st year and net income of $126,000 in its 2nd year. The percentage increase in net income was ______.
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Answer: 5% increase in net income.
Acme, Inc. had a net income of $120,000 in its 1st year and a net income of $126,000 in its 2nd year. The percentage increase in net income was 5%.
What is net income?Net Income = Total Revenue — Total Expenses.
Net income, also known as total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales, in the context of business and accounting refers to an entity's income less cost of goods sold, expenses, depreciation and amortization, interest, and taxes for a given accounting period. It has also been described as the net growth in shareholders' equity that arises from a company's activities.
It is calculated as the residual of all revenues and gains less all costs and losses for the period. Contrary to gross income, which merely deducts the cost of products sold from revenue, this is not the same thing. If you are paid a salary, the annual salary you get from your company equals your yearly gross revenue.
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Li would like to know what "managing up" means in the context of her being an HR professional.
How would
you briefly define "managing up" to Li?
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In the context of being a HR professional, managing up would have to do with the management of the employees that are in an organization in terms of hiring and ensuring good conduct.
Who is a HR professional?The five key responsibilities of human resources include managing talent, pay and benefits for employees, training and development, compliance, and workplace safety. By efficiently managing the employee lifecycle, an HR department may assist in providing organizational structure and the capacity to satisfy business demands.
They act as a conduit between potential employees and the businesses hiring. While some businesses utilize outsourcing techniques, others establish a human resources department under the direction or control of an HR manager.
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All of the following are examples of transfer payments except: _____________.
a. unemployment compensation to the unemployed.
b. welfare benefits to the poor.
c. Social Security payments to the elderly.
d. dividend payments to the wealthy
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Willow wants to find out how much time viewers spend on the website devoted to her indie rock band and how many times they click banner ads. The best tool for finding this information is.
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As Willow wants to find out how much time viewers spend on the website devoted to her indie rock band and how many times they click banner ads, the best tool for finding this information is a web analytics.
What is the use of web analytics?Basically, a web analytics means the measurement, collection, analysis, and reporting of web data to understand and optimize web usage. It is not just a process for measuring web traffic but can be used as a tool for business and market research and assess and improve website effectiveness.
The applications of web analytics also helps companies measure the results of traditional print or broadcast advertising campaigns.
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b. Write five importance of budget.?
Answers
Answer:
Hello!!
Explanation:
1. Budgeting Helps You Control Your Spending
2. Budgeting Keeps You On Track For Your Financial Goals
3. Budgeting Can Help Your Marriage
4. Budgeting Helps You Find Financial Contentment
5. Budgeting Keeps You From Feeling Financially Overwhelmed
A stock split does not apply to a. treasury shares b. issued shares c. preferred shares d. common shares
Answers
False. A stock split does apply to common shares.A stock split is a corporate action in which a company divides its existing shares into multiple shares.
The purpose of a stock split is to adjust the number of shares outstanding while maintaining the proportional ownership of shareholders. Typically, companies implement stock splits to make their shares more accessible to a broader range of investors by reducing the price per share.
A stock split does not apply to treasury shares because these are shares that a company has repurchased and are no longer outstanding. Issued shares represent the total number of shares a company has authorized and distributed, and a stock split affects these shares by increasing their quantity.
Preferred shares are a different class of shares with specific features, and although they may not be subject to stock splits as frequently as common shares, it is still possible for a company to split preferred shares if desired.
In summary, a stock split primarily applies to common shares, while treasury shares, issued shares, and preferred shares may not be subject to the same treatment or may have different considerations.
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Where is the main Federal Reserve Bank located?
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please mark me brilliance
which of the following tests do courts employ while evaluating an employer’s bona fide occupational qualifications?
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Courts employ the "Essence of the business" test while evaluating an employer's bona fide occupational qualifications (BFOQs). (Option B)
The BFOQ is a legal concept that allows employers to make employment decisions based on certain protected characteristics, such as sex or religion, if those characteristics are reasonably necessary to the normal operation of the business.
When courts evaluate whether an employer's BFOQ defense is valid, they apply the "Essence of the business" test.
The "Essence of the business" test assesses whether the protected characteristic in question is essential to the nature of the employer's business or its core operations.
It looks at whether the characteristic is directly related to the job's performance and is necessary for the business to function effectively. If the protected characteristic is deemed essential to the business's essence, the employer may establish a BFOQ defense for their employment decision.
The other options listed are not relevant to evaluating BFOQs in employment discrimination cases.
Quid pro quo refers to a different type of workplace harassment, caveat emptor relates to consumer transactions, ad libitum refers to a personal choice or preference, and the 80 percent rule is associated with pay discrimination under the Equal Pay Act.
Therefore, the correct answer is B. Essence of the business.
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The complete question is:
which of the following tests do courts employ while evaluating an employer’s bona fide occupational qualifications?
Question 4 options:
A.Quid pro quo
B.Essence of the business
C.Caveat emptor
D.Ad libitum
E.80 percent rule
Following transactions of Ramesh for April,2018 are given below. Journalize them, prepare ledger and trial balance.
Answers
Answer:
apr 28
Explanation:
You are in charge of a fast-food restaurant. The employees are all teenagers who have not yet graduated from high school, and this is the first job for most of them.
Answers
Answer:
I don't understand. What is the question?
Explanation:
is how much, or the quantity of a product or service that is desired by buyers at a given price.
Supply
Demand
Market economy
Command economy
Answers
My explanation would be the fact that demand means how much a target market wants a certain product.
Assuming purchase costs are declining and a periodic inventory system is used, determine the statements below which correctly describe what is happening to cost of goods sold under FIFO, LIFO and weighted average cost flow methods. (Check all that apply.)
Companies using LIFO will report the highest ending inventory on their balance sheets, as compared to companies using FIFO or weighted average. Companies using LIFO will report the lowest cost of goods sold. Weighted average cost of goods sold will be between FIFO and LIFO costs of goods sold.
Answers
Based on the illustration above, we know that:
Companies using LIFO will report the lowest cost of goods sold.Companies using FIFO will report the highest cost of goods sold.Weight average cost of goods sold will be between FIFO and LIFO costs of goods sold.About LIFO and FIFOCompanies using LIFO will report the lowest cost of goods sold. This is because LIFO assigns the most recent costs of inventory to the cost of goods sold. This means that the cost of goods sold reflects the current prices of goods sold.
Companies using FIFO will report the highest cost of goods sold. This is because FIFO assigns the oldest costs of inventory to the cost of goods sold. This means that the cost of goods sold reflects the oldest prices of goods sold.
Weight average cost of goods sold will be between FIFO and LIFO costs of goods sold. This is because the weighted average method calculates the cost of goods sold by taking the average cost of all goods sold during the accounting period.
It provides a more realistic cost of goods sold by calculating an average cost of goods sold during the accounting period.
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In a ______, the business-to-business buyer reorders something without modifications. A. system selling. B. straight rebuy. C. modified rebuy. D. new task
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In a straight rebuy, the business-to-business buyer reorders something without modifications. The term "straight rebuy" refers to ordering the same goods in the same quantity from the same source.
Straight rebuy indicates that a person or business merely needs to place a new order from the same vendor without altering any of its components. Given that the supplier is aware of the specifics and can schedule production in this buying scenario, the company anticipates receiving the order on time. Due to their prior working relationship, a supplier and the company that places an order shouldn't have any misconceptions or ambiguities.
Systems selling, also known as solutions selling, refers to purchasing a bundled solution to a problem from one seller rather than having to make all the distinct choices necessary in a complicated purchasing scenario. Such "systems selling" is frequently a vital component of a company's account-winning and account-maintenance marketing strategy.
Suppliers should uphold the quality of their goods and services to win back repeat business. They should also automate their reordering processes to save consumers' time. They can also introduce fresh goods and services to expand their market reach. Manufacturers enjoy this buying scenario since the customer doesn't look at other suppliers before making the purchase. They now have a reliable, steady source of income.
Unlike straight rebuy, modified rebuy indicates that a business needs to make certain changes to its prior orders before placing a new order. The alteration may pertain to the source, delivery schedule, packaging, cost, level of quality, or quantity. Delivery of the order may be delayed as a result of this update, since the supplier must make a change. It can take a lot of time occasionally. A modified rebuy occasionally results in the incorrect supply of items to the customers.
A new task or purchase refers to when a business places its first order with a certain supplier, the scenario is referred to as a "purchasing situation". Companies must conduct extensive research before making new purchases in order to choose the best supplier for their unique requirements.
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Although Kemal attempted to create a strong Turkish economy, how did his policies only add to the international global depression? a. Kemal tried to discourage Turks from buying foreign goods. b. High tariffs on imported goods only hurt other nations involved in the global depression. c. Goods from Europe and American were banned in Turkey. d. Government subsidies kept Turkish goods cheap in the nation and discouraged foreign imports. e. Kemal tried to create a totally domestic solution to the economic problems.
Answers
Answer:
b. High tariffs on imported goods only hurt other nations involved in the global depression
Explanation:
Although Kemal attempted to create a strong Turkish economy, his policies only add to the international global depression due to the placement of "High tariffs on imported goods."
Kemal who was once the President of the new Turkey from the old Ottoman Empire had series of reforms including economic policies that favor internal production and discourage reliance on importation. However, his administration was around the global depression period, and his policies of high tariffs on imported goods only hurt other nations involved in the global depression.
________________________ equalizes the prices of internationally traded goods across countries.
Answers
Answer:purchasing power parity
Explanation:
(a) With example, explain how a decision can become an ethical issue 15 marks] (b) What do we mean when we say an ethical theory is rational? 15 marks]
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a) A decision becomes an ethical issue when conflicting values or interests are involved.
(b) An ethical theory is considered rational when it is based on logical reasoning and consistent principles.
(a) A decision can become an ethical issue when it involves conflicting values, principles, or interests that require ethical judgment to determine the right course of action. For example, deciding whether to prioritize financial profit over environmental sustainability in business operations can raise ethical concerns.
(b) When we say an ethical theory is rational, it means that it is based on logical reasoning and consistent principles. Rational ethical theories seek to provide systematic and coherent frameworks for evaluating ethical dilemmas by applying logical arguments and principles.
These theories aim to provide a logical foundation for ethical decision-making, relying on reasoned analysis and logical coherence to determine moral judgments. Rational ethical theories often emphasize consistency, universalizability, and logical coherence in guiding ethical reasoning and actions.
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You manage a large, high-end jewelry store with an international clientele. Your workforce of 150 is demographically diverse, and your employees are trustworthy as a rule. However, you have experienced some unexplained loss of inventory and suspect a couple of employees are stealing valuable pieces, removing them from backroom storage safes and handing them off to another person somewhere in the store who leaves with them or to a third person pretending to be a customer. To prevent this, your assistant managers are urging you to place discreet cameras in the restrooms and break rooms, where these exchanges are likely occurring. Some managers might be concerned about using cameras at all due to privacy issues; others might want to use them without notifying employees or putting up signs because they do not want to tip off the suspects or deal with the negative reaction of the workforce (although that brings up invasion of privacy issues). You are weighing the pros of catching the thieves against the possible loss of other employees’ trust.
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The ethical dilemma in this scenario involves weighing the pros and cons of using discreet cameras in the restrooms and break rooms to prevent employee theft versus the possible loss of trust from employees, invasion of privacy issues, and negative reactions from the workforce.
On the one hand, placing cameras in the restrooms and break rooms could help catch the suspects who are stealing valuable pieces of jewelry from the store. This could prevent future losses of inventory and protect the store's profits. However, on the other hand, using cameras without notifying employees or putting up signs could be viewed as an invasion of privacy and breach of trust.
It could also damage the morale of other employees who feel that their privacy is being violated, which could ultimately lead to higher employee turnover and loss of talent. Therefore, it is essential to carefully consider the potential consequences of using cameras before making a decision.
It is recommended that the manager involve their employees in the decision-making process to increase transparency and trust. They could also consider alternative solutions such as improving the security of the storage safes, hiring a security guard to monitor the restrooms and break rooms, or conducting random bag checks of employees before they leave the store.
These alternatives could be less intrusive and could help prevent employee theft while also maintaining trust with employees.
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What is a real account?
Answers
Answer:
A real account is a publicly generalized account that does not close at the end of the considered year. Apparently, the balances in real accounts are carried over to become the start of balances of the next period. Real accounts are also permanent accounts.
Answer:
Explanation:
A real account is a acccount that’s valid until one year
Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
Answers
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
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Snail corporation filed its 2022 form 1120-s on february 20, 2024. Snail is a calendar-year taxpayer with 5 shareholders. What amount will snail owe for failure to file on time?
Answers
Snail corporation filed its 2022 form 1120-s on February 20, 2024. Snail is a calendar-year taxpayer with 5 shareholders. $36,900 amount will snail owe for failure to file on time.
Who is a shareholder?
A person or organisation that has contributed funds to a corporation in exchange for a share of ownership is referred to as a shareholder. Common or preferred shares issued by the corporation and held (i.e., owned) by the shareholder serve as a representation of that ownership.
What is a shareholder's function?
The shareholder, who also controls how the directors run the business and is responsible for the company's financial stability, also gets a cut of any profits the business makes.
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OA-9 Close Date: Sun, Jul 3, 2022, 11:59 PM Question 4 of 4 Since the birth of her granddaughter, 16 years ago, Juan has deposited $250 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 4. 50% compounded monthly for the first 9 years and 5. 00% compounded monthly for the next 7 years. A. What was the accumulated value of the RESP at the end of 9 years? b. What was the accumulated value of the RESP at the end of 16 years? $72,457. 88 Round to the nearest cent c. What was the amount of interest earned over the 16-year period? $24,457. 88 Round to the nearest cent
Answers
A = P(1 + r/n)^(nt)
Where:
A is the accumulated value
P is the principal amount (monthly deposit)
r is the interest rate (as a decimal)
n is the number of times the interest is compounded per year
t is the number of years
Given the information provided, let's calculate each part:
(a) Accumulated value at the end of 9 years:
P = $250 (monthly deposit)
r = 4.50% or 0.045 (compounded monthly for 9 years)
n = 12 (monthly compounding)
t = 9
Using the formula:
A = 250(1 + 0.045/12)^(12*9) ≈ $44,063.76
(b) Accumulated value at the end of 16 years:
For the first 9 years, the interest rate is 4.50% compounded monthly.
For the next 7 years, the interest rate is 5.00% compounded monthly.
P = $250 (monthly deposit)
For the first 9 years:
r = 4.50% or 0.045 (compounded monthly)
n = 12 (monthly compounding)
t = 9
Using the formula:
A1 = 250(1 + 0.045/12)^(12*9)
For the remaining 7 years:
r = 5.00% or 0.05 (compounded monthly)
n = 12 (monthly compounding)
t = 7
Using the formula:
A2 = A1(1 + 0.05/12)^(12*7)
Calculating A2 will give us the accumulated value at the end of 16 years.
(c) Amount of interest earned over the 16-year period:
Interest earned = Accumulated value at the end of 16 years - Total deposits
Total deposits = Monthly deposit amount x Number of months (16 years x 12 months/year)
Let's calculate:
Total deposits = $250 x (16 x 12) = $48,000
Interest earned = Accumulated value at the end of 16 years - Total deposits
Now, using the values we calculated in (b) and (c), we can find the solution:
Accumulated value at the end of 16 years = A2
Interest earned over the 16-year period = A2 - $48,000
Round the results to the nearest cent.
Therefore:
(a) The accumulated value at the end of 9 years is approximately $44,063.76.
(b) The accumulated value at the end of 16 years is approximately $72,457.88.
(c) The amount of interest earned over the 16-year period is approximately $24,457.88.
do you agree with the marketing customer service mantra the customers is always right
Answers
Answer:
depemds
Explanation:
in jobs usually they tell the employee the customer is right to satisfy them and not lose customers but it is depending the situation
Krista lee can purchase a service contract for all of her major appliances for $260 a year. if the appliances are expected to last for 10 years and she earns 7 percent on her savings, what would be the future value of the amount krista will pay for the service contract?
Answers
The amount Krista will be required to pay for the service contract in the future will be $3592.28.
What is the anticipated value of the annuity?The future value of an annuity is the amount that a series of reoccurring payments would be worth at a specified future date, assuming a particular rate of return, or discount rate. As the discount rate goes down, the annuity's future value goes up.
How may the annuity's future value be calculated?Define the total number of periods you'll contribute, the period-to-period return rate (r), and the periodic contribution you'll make (P) (n).Divide the outcome by r after deducting one from (1 + r)n.The result can be multiplied by P to determine an annuity's future value.FV= P x {[(\((1 + r)^{n}\) - 1] / r}
Where P = Principal amount = $260
r = rate = 7% =0.07
n = 10 years
FV= $260 X {[\((1+ 0.07)^{10}\) - 1] / 0.07}
FV= $260 X 13.82
FV= $3592.28
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You want to ctegsosit $15,00na bank at an interest rate of 7 percent per year What is the uture vale of this money after three yes?
tuture value P+)
present value +0
OA S1837563
OR $19661.94
OC $20407.33
Answers
Answer:
A $18, 375.63
Explanation:
The amount to be deposited is $15,000
Interest rate is 7 percent
time is 3 years
the future value will be; the applicable formula
A = p x ( 1 + r) ^n
A = $15,000 x ( 1 + 7/100) ^ 3
A= $15,000 x 1.225043
A=$18,375. 64
BUSINESS 1. Explain five advantages a firm would enjoy by engaging in prize winning competition as a method of sales promotion.
Answers
Answer:
I hope my answer is good!
1- Increased brand awareness: Prize-winning competitions can generate a lot of buzz and excitement, which can lead to increased brand awareness and visibility for the company.
2- Increased sales: By offering a prize, companies can incentivize customers to purchase their products or services, resulting in increased sales.
3- Customer engagement: Prize-winning competitions can also help companies to engage with their customers, as they are more likely to participate in the competition if there is a chance to win a prize.
4- Cost-effective: Prize-winning competitions can be a cost-effective way for companies to promote their products or services, as the cost of the prizes can be less than the cost of traditional forms of advertising.
5- Consumer data collection: Prize-winning competitions can also help companies collect valuable data on their customers, such as contact information, demographic information, and purchasing habits.
Answer: creates new things
Explanation:
creates word of mouth
creates a reason to ,creates a focused marketing approach, creates great revenue, creates a source of information
Accounting involves the___of the financial activities for firms. delegating summarizing creation empowering planning
Answers
Accounting involves the summarizing of financial activities for firms.
Accounting also involves the creation of financial statements, empowering decision-making through providing accurate financial information, planning for future financial activities, and delegating financial responsibilities within an organization.
The "summarizing" of the financial activities for firms. Accounting is the process of collecting, recording, and summarizing financial data. This information is used to create financial reports, analyze performance, and make informed business decisions.
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match each type of area with the correct level of housing prices?
URBAN
EXURBAN
SUBURBAN
LOW HOUSING PRICES
MEDIUM HOUSING PRICES
HIGH HOUSING PRICES
Answers
Answer and Explanation:
The matching of the area with the level of housing prices is as follows
Urban = High housing prices
As urban refers to that area in which there is a large population so of course the prices of the houses are high
Exurban = Low housing prices
The exurban is located in the rural areas in which there are less populations as compared to sub
Suburban = Medium housing prices
In this the population is more than the exurban
How will you be able to become the cost leader of the market in which you deal?
A.
by focusing on customer loyalty
B.
by analyzing your competitive advantage and identifying which strategy works best for your business
C.
by concentrating on serving a particular segment of customers better
D.
by producing a product that has a higher perceived value to the customers when compared to the already existing products
E.
by producing your goods at the lowest price in the market
Answers
Answer:
well it would be A i think
Explanation:
Answer:
E. by producing your good at the lowest price in the market
Explanation:
Plato
1.Discuss scale of business -micro, small, and medium enterprises -Large scale enterprises and public enterprises -MNC
Answers
Answer:
The main difference between these business is the investment and number of people.
Explanation:
A micro enterprise is an enterprise where investment in plant and machinery is less than one million whereas small enterprise has the investment less than 15 million in plant and machinery. A medium enterprise is an enterprise where the investment in plant and machinery is more than 15 million and less than 100 million. Large scale enterprises is a type of enterprise have more employees and more complex management than in the medium-scale businesses. Public enterprise is a type of business organization wholly or partly owned by the state but controlled through a public authority.