Budgeting period is an allocation of time to plan for your money and how or where it's gonna be used. There are two types of budgeting period: Short term and Long term.
Short-term Budgeting period
This budgeting period covers from 6 months to a year, depending on the nature of the business. For seasonal businesses, it should cover at least one seasonal cycle. For wholesale and retail businesses, 6 month is enough.
Long-term Budgeting Period
This covers more than a year of operating. It focuses on the futuristic performance of a business or company. Factors used are market trends, economic growth, inflation rates and industrial production. These factors help foresee profit or problems that may arise. Consequently, this will also help you in your present decisions.
Answer:
73 months
approximately 6 years
Explanation:
The period of time it would take to pay off the loan can be determined using excel nper function as below:
=nper(rate,pmt,-pv,fv)
rate is the interest expressed in monthly terms which is 15.3%/12
pmt is the amount payment per month i.e $90
pv is the amount of loan which is $4250
fv is the balance of the loan after all payments have been made i.e $0
=nper(15.3%/12,90,-4250,0)= 73 months
73 months/12 months=approximately 6 years
The UCC rule says that a merchant who offers to buy, sell, or lease goods and gives a written and signed assurance on a separate form that the offer will be held open cannot revoke the offer for the time stated or if no time is stated, for a reasonable time is referred to as the <u>Firm Offer Rule.</u>
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<h3><u>A Firm Offer: What Is It?</u></h3>
When goods are sold, a firm offer is deemed to have been made when a guarantee to keep the offer open has been signed and the selling merchant meets the requirements for a merchant under the Uniform Commercial Code. Customers frequently ask for a definite offer so they can be certain of their cost over a predetermined period of time. A lot of retailers also request definite offers from their suppliers. Firm offers have a number of benefits, but there is a chance that things could change and the original offer would no longer be appropriate.
For instance, you might not be able to maintain the price you initially proposed due to rising raw material costs or running out of stock.
Only the time period specified in the offer is valid for firm offers. If the offer does not include a deadline, it will be valid for a maximum of three months.
Learn more about the firm offer rule with the help of the given link:
brainly.com/question/13640672?referrer=searchResults
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