Answer:
b
Explanation:
An example of credit is when a person borrows money from a finance company to buy a car. Once credit is extended to a person and is used for a purchase, the credit is converted to a debt, and the person has the financial obligation to repay the loan.
Answer: d. All of the above.
Explanation: Budgeting is simply the activity of constructing a budget which in turn is defined as any amount of money or resources earmarked for a particular institution, activity or time-frame. An effective budget program is quite significant to both planning and controlling processes and is employed by managers and executives to plan, monitor and control various activities at every level of an organization or business creating better and tighter controls on an organization's costs, activities and communication.
Answer: Because many executives have access to company jets, boards of directors have a responsibility to ensure that shareholders are not footing the bill for personal travel.
Explanation: because it would be English error to make use of a 'comma' before a clause that begins with 'that'
(2nd and 3rd sentence)
Explanation:
The company acquired a machine on January 1 at an original cost of $ 81,000. The machine’s estimated residual value is $ 15,000, and its estimated life is 20,000 service hours. The actual usage of the machine was as follows:
Year 1 9,000 hours
Year 2 5,000 hours
Year 3 4,000 hours
Year 4 2,000 hours
Answer:
7,800 units
Explanation:
Contribution margin per unit = 60,000 / 6,000 units
Contribution margin per unit = $10 per unit
Number of Units = (Target Profit + Fixed Expense) / Contribution margin per unit
Number of Units = ($24,000 + $54,000) / $10
Number of Units = $78,000 / $10
Number of Units = 7,800
So, the number of units that must be sold to achieve a target profit of $24,000 is 7,800 units
