The financial management practices which are least effective in creating and monitoring an operating budget include top down/bottom up budgets, poor inventorying, lack of control, over control, and lack of staff investment.
In business, financial management includes the practice of making a business plan and then ensuring that all departments which falls under it stay on track and work properly.
Creating and monitoring an operating budget for the national government involves four distinct processes which are, budget preparation, budget authorization, budget execution and accountability.
Hence, the operating budget helps in keeping track of the income and expenses in an organization.
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Answer:
Stories
Explanation:
Stories are the stuffs that the people hear about and like to discuss about. Stories are part of the organization culture and are a good means for an organization to affect customer choices because the issues of the customers are highlighted which helps organization to rectify its operations.
Answer:
$90
Explanation:
The formula and the computation of the contribution margin per unit are presented below:
Contribution margin per unit = Selling price per unit - variable cost per unit
= $150 - $60
= $90
If we deduct the variable cost per unit from the selling price per unit, then the contribution margin per unit can arrive
We only considered the selling price and the variable cost per unit
Answer:
Required 1
<u>January 1</u>
Cash $340,000 (debit)
Note Payable $340,000 (credit)
Required 2
$27,200 goes toward interest expense.
Explanation:
<u>Issuance of the Note :</u>
Assets of Cash are increasing, the Liabilities are also increasing.
<u>Payment at December 31 :</u>
The Annual Payment comprises of Capital Repayment and Interest Expense.
Prepare an amortization schedule using the details of the Note highlighted below to separate the Capital Repayment and Interest Expense Component :
PV = $340,000
PMT = - $85,155
N = 5
i = 8%
P/yr = 1
FV = $0
Note Schedule is attached !
