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bonufazy [111]
3 years ago
12

Which of the following is true of a budget committee? a.It ensures that shareholders approve the budget. b.It takes care of the

marketing activities of a firm. c.It is responsible for reviewing the budget. d.It works under the direction of the budget director
Business
1 answer:
CaHeK987 [17]3 years ago
5 0

Answer:

The correct answer is letter "C": It is responsible for reviewing the budget.

Explanation:

The Budget Committee is formed by high executives in an organization who create and keep the fiscal responsibility of that company. Normally, budget committees are composed by the <em>Chief Executive Officer</em> (<em>CEO)</em> and the <em>Chief Financial Officer</em> (<em>CFO</em>). They are in charge of reviewing and approving the budget.

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Equinox Products Inc. Income Statement For the Year Ended December 31, 20Y8
Umnica [9.8K]

Answer and Explanation:

The preparation of the income statement is presented below:

                                     Equinox Products Inc.

                                        Income Statement

                     For the Year Ended December 31, 20Y8

Sales                                                                                    $5,313,000

Less: Cost of goods sold                                                   -3,700,000

Gross profit                                                                       $1,613,000

Less:

Operating expenses:

Selling expenses:

Sales salaries expense          $385,000

Sales commissions                 $185,000

Advertising expense               $150,000

Depreciation expense-

store buildings and equipment $100,000

Delivery expense $30,000

Store supplies expense $21,000

Miscellaneous selling expense $14,000

Total  -$885,000

Less:

Administrative expenses:

Office salaries expense $170,000

Office rent expense $50,000

Depreciation expense - office buildings and equipment $30,000

Office supplies expense $10,000

Miscellaneous administrative expense $7,500

Total $267,500

Total operating expenses                                                        $-1,152,500

Operating income                                                                       $460,500

Other revenue and expense:

Interest revenue $30,000

Less: Interest expense -$21,000

Income before income tax                                                           $469,500

Less: Income tax                                                                           -$140,500

Net income                                                                                      $329,000

We simply deduct the all expenses and add all revenues so that the net income could come

5 0
3 years ago
The CEO of Widgets, Inc., must decide whether to take the company public. To better understand the potential advantages and disa
nordsb [41]

Answer:

the dialectic method

Explanation:

Based on the information provided within the question it can be said that the process that is being used is known as the dialectic method. This is a form of research in which competing ideas, perspectives, or arguments are analyzed in order to understand the potential truths, advantages, and disadvantages of the aspects being discussed.

7 0
3 years ago
Sand, Inc. has outstanding $5,000,000, 10%, 20-year bonds. The bonds are callable at 104 on any interest date. The bonds were is
Ray Of Light [21]

Answer: B) A loss of $200,000 on its income statement in the year the bonds are called.

Explanation:

The bonds were issued at Par. This means they were issued at 100 of par.

The bonds are now trading at 104 of par.

If Sand Inc calls the bonds then they will make a profit (loss) of,

= 5,000,000 * 104/100

= $5,200,000

Therefore their Profit (loss) will be the bond at par minus the Calling price

= 5,000,000 - 5,200,000

= -$200,000

That means they make a loss of $200,000 in the year the bonds are called.

If you need any clarification do react or comment.

6 0
3 years ago
Please select the best answer from the choices provided A situation in which quantity demanded is greater than quantity supplied
Black_prince [1.1K]
<span>A situation in which quantity demanded is greater than quantity supplied best describes shortage. Shortage is when any product or service lacks the means to provide or satisfy its demand. A shortage in the product or service usually results to a price increase. On the other hand, a surplus results to a price decrease.</span>
5 0
3 years ago
Read 2 more answers
Kimberley Mayfield recently evaluated her subordinate's progress report. She now plans to inform her about the objectives she di
stellarik [79]

Answer: behavioral

Explanation: The tendency in an individual that make him behave in a certain way in a particular situation is called the behavioral component of his attitude. It depicts the intention of a person.

In the given case, Kimberley wants to inform her subordinate what she has not achieved and also advice her how she can improve. This shows that she has a developing instinct and leadership quality in her.

    Thus, from the above we can conclude that the correct option is D.

7 0
3 years ago
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