All categories

3 years ago

All of the following are guidelines for budgeting except:

Business

1 answer:

Serhud [2]3 years ago

8 0

Answer:

B. participatory approach budgets should be prepared using a top-down approach

Explanation:

Option A is incorrect because it is one of the significant guidelines for budgeting.

Option C is a budgeting guideline which helps to differentiate the actual and budgeted amounts.

Option D is an important element to attain the objectives through budgeting. Therefore, it is incorrect.

Option B is the answer as there is no option to prepare the budget using a top-down approach.

You might be interested in

Interest income received by a cash basis taxpayer is generally reported in the tax year it is received. True False

FromTheMoon [43]

Answer:

TRUE

Interest income received by a cash basis taxpayer is generally reported in the tax year it is received.

5 0

3 years ago

The Muffin House produces and sells a variety of muffins. The selling price per dozen is $ 18, variable costs are $ 5 per doze

Vlad1618 [11]

Answer:

$7,222

Explanation:

Given that,

Selling price per dozen = $18

Variable costs = $5 per dozen

Total fixed costs = $ 5,200

Contribution margin per dozen:

= Selling price per dozen - Variable costs per dozen

= $18 - $5

= $13

Contribution margin ratio:

= (Contribution margin ÷ Selling price per dozen) × 100

= ($13 ÷ $18) × 100

= 0.72 × 100

= 72%

Break-even sales in dollars:

= Total fixed costs ÷ Contribution margin ratio

= $5,200 ÷ 0.72

= $7,222

6 0

3 years ago

An aging of a company's accounts receivable indicates that $8500 are estimated to be uncollectible. If Allowance for Doubtful Ac

Evgesh-ka [11]

Answer:

debit to Bad Debt Expense for $5800

Explanation:

Accounts receivable estimated as uncollectible = $8500

Allowance for Doubtful Accounts = $2700

Additional allowance for Doubtful debts required = $8500 - $2700

= $5800

The adjustment to record bad debts for the period will be

Debit Bad debt expense $5800

Credit Allowance for Doubtful Accounts $5800

The right option is debit to Bad Debt Expense for $5800

3 0

3 years ago

Prepare the December 31 adjusting entries for the following transactions with JE explanations. 1. Fees accrued but not billed, $

disa [49]

Answer:

Adjusting Entries

Date Description Debit Credit

1. December 31 Fees Revenue $6,300

Account Receivable $6300

2. December 31 Supplies Expense $3,790

Supplies Inventory $3,790

3. December 31 Wages Expense $2,700

Wages Payable $2,700

4. December 31 Depreciation Expense $1,650

Accumulated Depreciation $1,650

December 31 Rent Expense $10,800

Prepaid Rent $10,800

Explanation:

Supplies Expense = $4,750 - $960 = $3,790

Rent expired term is considered as there is a prepaid rent balance of $10,800

3 0

3 years ago

The pedals of the bicycle should have reflectors on them that can be seen from<br> feet away

iragen [17]

The tires and the pedals and on the helmet

4 0

2 years ago