<span>A. Once you finish making your budget, you should not change it.</span>
Answer:
Part (a) The net income of carter is $115 million.
Part (b) The closing cash balance at the end of year is $360.
Explanation:
Part (a) Net Income Computation:
Sales $825
Cost of goods sold <u>(</u><u>$290</u><u>)</u>
Gross Profit $535
Other Expenses <u>(</u><u>$425</u><u>)</u>
Net income $115 Million
Part (b) The cash balance of Carter is not dependent on non cash flows. So the cash transactions would be considered here for cash balance computation.
Opening Cash position $290
Collection from Sales $710
Inventory Invoices paid ($350)
For Everything <u>($290)</u>
Closing Cash balance $360
This question is mainly about YOUR opinion. Many will say that it will, but some will say it shouldn't. This is based entirely on your opinion.
Answer: IND report
Explanation:
A sponsor investigator has numerous roles to perform which includes
Control of the investigational drug
Record retention
Reporting
Assurance of IRB review
Inspection.
So, under the reporting role he or she will be saddled with the responsibility of giving an annual report of the IND investigation.
Answer:
Income
Explanation:
A budget shows a plan of how one will spend their income. It is, therefore, a plan of expenditure. A budget shows total expected income on one side and projected expenditure on the other side. The budget is balanced when income and expenses are equal.