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3 years ago

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

2 answers:

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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A farm equipment manufacturer has already spent $3 million in research and development to design a new model of tractor. To prod

lina2011 [118]

Answer:

$20,000

Explanation:

Data provided in the question:

Amount spent on research and development = $3 million

Rent = $20 million = $20,000,000

Materials and wages = $10,000 per tractor

Number of tractors to be sold = 2,000

Now,

The lowest price will be when the company attains the break-even

thus,

At break-even point

Total cost = Total revenue

let the lowest cost be 'x'

therefore,

2,000x = $20,000,000 + ( $10,000 × 2,000 )

2,000x = $20,000,000 + $20,000,000

2,000x = $40,000,000

x = $20,000

6 0

3 years ago

Which of the following statements is CORRECT?

Oduvanchick [21]

Answer:

d. The statement of cash flows shows how much the firm's cash, the total of currency, bank deposits, and short-term liquid securities (or cash equivalents), increased or decreased during a given year.

Explanation:

In a statement of cash flows , what we have shown is a summary of cash and also all equivalents if cash that goes into and also goes out if a firm or company. It provides to what extent that cash is being managed by a firm. Therefore option D is the answer to this question since it talks about how cash increases or decreases in a firm in a particular year

5 0

3 years ago

Supplies are assets until they are used. When they are used up, their costs are reported as expenses. The costs of unused suppli

mezya [45]

Question Completion:

Describe the accounting treatment of Supplies Expenses.

Answer:

Supplies Expenses are debited while the Supplies account is credited with the supplies expenses.

Explanation:

This accounting treatment of Supplies Expenses reduces the balance of the Supplies account by the amount of supplies used during the period. Thus, what is left in the Supplies account is the cost of the unused supplies at the end of the accounting period. The treatment also accords with the accrual concept, which requires that expenses are matched to the revenues that they generate in the period.

7 0

3 years ago

38) A lottery ticket states that you will receive $250 every year for the next ten years. a. What is the present value of the wi

Stells [14]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

A lottery ticket states that you will receive $250 every year for the next ten years.

A) i=0.06 ordinary annuity

PV= FV/(1+i)^n

FV= {A*[(1+i)^n-1]}/i

A= annual payment

FV= {250*[(1.06^10)-1]}/0.06= $3,295.20

PV= 3,295.20/1.06^10=1,840.02

B) i=0.06 annuity due (beginning of the year)

FV= 3,295.20 + [(250*1.06^10)-1]= $3492.91

PV= 3492.91/1.06^10= $1,950.42

C) The interest gets compounded for one more period in an annuity due.

5 0

3 years ago

Here is a series of addresses in hexadecimal: 20, 3c, 10, 16, 20, 04, 28, 60, 10, 17 assume a lru replacement algorithm. for the

sp2606 [1]

<span>If there is a series of addresses in hexadecimal: 20, 3c, 10, 16, 20, 04, 28, 60, 10, 17 and it is assumed that an LRU replacement algorithm, then in order to solve the problem is to keep in mind that the two addresses included and be in the same set.</span>

7 0

3 years ago