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3 years ago

What is the reason it's better to underestimate your income instead of overestimating when creating your budget?

Business

1 answer:

Alik [6]3 years ago

6 0

Answer:

Underestimating your income is a conservative and healthy measure that can avoid financial problems.

Explanation:

Underestimating your income is a conservative and healthy measure, such as it is overestimating your expenses.

Specially when your income is variable iit can be hard to predict. You will be safer both if your income lowers or your unpredictable expenses increase.

There are many unpredictable situations that could put you in a difficult situation: a disease, a natural disaster, the need to help a family member or friend in trouble. If any of these unfortunate circumstances arises and your budget is too tight, you could see yourself in financial trouble.

But, if you if all is smooth you will have in a happy situation, you will have a surplus which can use for savings, for an important purchase, or for vacations.

It is better to be cautious than to regret later!

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Crane Company has the following sales data: August September October November December Cash Sales $4000 $5000 $6000 $7000 $16000

umka21 [38]

Answer:

Collections for September is $ 57,100

Explanation:

Computation of cash receipts for September

Collections from cash sales of September $ 5,000

Collections from credit sales of August - 57 % of $ 50,000 $ 28,500

Collections from credit sales of September 40 % of $ 59,001 $ 23,600

Total collections for September $ 57,100

5 0

3 years ago

Which statement best describes how the International Ethics Standards Board for Accountants' (IESBA) Code impacts the U.S. accou

Vladimir79 [104]

The AICPA is required to adopt ethics standards that are at least as restrictive as the IESBA rules.

Answer: Option D

Explanation:

IESBA stands for the international ethics standards board for the accountants. As clear from the full form, this board performs the activities of setting up the ethics which the accountants need to follow while they are performing their work of making the accounts.

This body is not a national level but established at an international level. The other body which is the AICPA also needs to adopt the rules which are as restrive as the ethics of the IESBA.

5 0

2 years ago

What legal document transfers the title of real property from one party to another?

aleksley [76]

Answer:

D deed

Explanation:

Real estate property ownership is recorded and tracked with documents known as the deed or the title deed. The records are in the custody of the County Recorder’s office. Any transfer of property ownership must be accompanied by a change to the official documents to reflect the new owner. The change in name on the deed documents is what signifies the transfer of ownership.

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2 years ago

Subprime lending means lending to borrowers and charging interest that is below the current prime interest rate.

STALIN [3.7K]

Answer:

False

Explanation:

Subprime lending means lending to borrowers and charging interest that is above the current prime interest rate.

The current prime interest refers to the rate offered to the best credit rated customers based on their credit history. This rate is lower as it is meant to be an attraction for the customers who are good credit payers and takers.

The sub-prime lending refers to giving loans at a rate higher than current prime interest rate to the borrowers who are lower on credit rating. This lending takes on higher risk and hence thereby charges higher interest from the borrowers.

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2 years ago

The cable company must own a scarce resource. The cable company is experiencing diseconomies of scale. In order for a monopoly t

Vika [28.1K]

Answer:

It is more efficient on the cost side for one producer to exist in this market rather than a large number of producers.

Explanation:

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3 years ago

Read 2 more answers