The zero-based budget is the the most effective type of budget because its keeps the firm aware of how much money is flowing in and out.
<h3>What is a zero-based budget?</h3>
A zero-based budget means a method of budgeting where all the expenses must be explained for each new period.
The zero-based budget is very important because its process ensure that that is a justification for all operating expenses and areas that company are generating revenue.
In conclusion, the zero-based budget is the the most effective type of budget because its keeps the firm aware of how much money is flowing in and out.
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Answer:
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Answer:
The important thing to remember here is that the interest is compounded semi annually, which means twice a year. When the 1st interest is compounded, the second interest is calculated on that new amount.
(11,500 + (11,500×6%)) = $ 12,190
(12,190 + (12190×6%)) = $ 12921.40
Explanation:
Answer:
Credit standards
Explanation:
The credit standard refers to the guidelines that are issued by the organization which analyzed whether the borrower is eligible for the loan or not. It could be checked by his or her credit score that reflects the full picture of borrower credit history i.e borrower is paying the amount of loan within in the given time or not or he is a defaulter that helps in deciding whether to offer credit or not and by how much
The probability that demand is greater than 1800 gallons over a 2 hour period is : 0.5
<u>Given data :</u>
Mean value of gasoline per hour = 875 gallons
Standard deviation = 55 gallons
<h3>Determine the probability of demand being greater than 1800 gallons over 2 hours </h3>
Demand for gas in 1 hour = X₁
Demand for gas in 2 hours = X₁ + X₂
Therefore ; ( X₁ + X₂) ~ N ( u₁+u₂, sd₁² + sd₂² )
In order to calculate probabilities for normals apply the equation below
Z = ( X- u ) / sd
where : u = 1800, sd = √ ( 55² + 55² ) = 77.78
using the z-table
P( Y > 1800) = P( Z > ( 1800 - 1800 ) / 77.78)
= P( Z>0 ) = 0.5
Hence we can conclude that The probability that demand is greater than 1800 gallons over a 2 hour period is : 0.5.
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