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Xelga [282]
3 years ago
6

What are the similarities and differences between balancing a city budget and balancing a personal budget?

Business
2 answers:
elena-14-01-66 [18.8K]3 years ago
6 0
For me they don't differ in a sense of budgeting but they have a big different in every factor of way and rule in budgeting. In balancing a city budget you must first analyse what are the expense, credits and also the future expense of the city to make it last until the next budget. You also have to consider your people in their needs and wants not just you but for the good of the city.
Papessa [141]3 years ago
3 0
The similiarities of balancing a city budget and a personal budget is that you are bound by a certain amount of budget and that your purchasing decisions must be weighed properly. The difference between the two is that personal budget affects only a person's budget while a city budget if mishandled affects lives of people in a certain city. 
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3 years ago
Which type of budget indicates more expenses than income?
Fittoniya [83]

Answer:

a deficit budget

Explanation:

A budget is a plan detailing how an individual, a firm, or a government will spend its anticipated revenue. In short, a budget is a plan of expenditure. Budgets are usually prepared at the beginning of a period to guide the use of available resources.

An ideal situation is when the planned expenditure equal to the expected income. Such a plan is called a balanced budget. However, in some circumstances, the planned expenditure exceeds the projected income. That budget is a deficit budget.

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3 years ago
Kier Company issued $660,000 in bonds on January 1, Year 1. The bonds were issued at face value and carried a 5-year term to mat
yuradex [85]

Answer:

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Payment of Interest Expense is the cash expense paid during the year which is deducted from the operating profit in the calculation of net income which is used to determine the cash flow from operating activities.

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Dr. Interest Expense   $39,600

Cr. Cash                       $39,600

As the cash is paid against the operating activities.

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3 years ago
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-3.41%

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($10,710,500 ÷ $12,738,500)^(1 ÷ 5) = (1 + rate of interest)

(1 + rate of interest) = 0.965913622

r = (0.965913622 - 1) × 100

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The answer would be account D

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