Answer:
It is not necessary to prepare any other budgets before preparing the Cash Budget.
Explanation:
- The cash budget is assumptions of the cash flow over a period of time and this budget is used to check the entity has a sufficient cash to operate. This process allows the company to forecast the cash needs throughout the year and changes to the roll forwards this technique does need any other budgeting technique to be made prior.
Answer:
D. perfect competition
Explanation:
Perfects competition is a theoretical market structure where competition among firms is at the highest level possible. It is also known as pure competition. Due to the high level of competition, there are no dominant firms. Each firm will have a small proportion of the market share. Other characteristics of a pure competition market include,
1. All firms sell a homogeneous or identical products
2. There are barriers to entry or exiting in the market
3. All firms are price taker; no single entity can influence the prices
4. There many very firms and seller in the markets
5. Buyers have sufficient knowledge about the sellers and the market.
When employees collect cash for a sale, a control issue could arise since they might be inclined to steal.
<h3>Explain about the cash purchases?</h3>
A business makes a cash purchase when it pays for products or services right away after ordering or receiving them. The supplier does not grant credit. Account payable is not established. Regardless of whether the company utilizes accrual basis accounting or cash basis accounting, the resulting expense is promptly reported to an expense account.
In contrast to the income statement, the cash flow statement records cash purchases more directly. In actuality, precise cash outflow events are completely absent from the revenue statement.
For instance, a customer might enter a store and buy an apple using a debit card. Debit cards operate similarly to cash in that they immediately deduct the amount due for the apple from the buyer's bank account. There is a cash exchange here.
To learn more about cash purchases refer to:
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Answer:
$250
Explanation:
Profit = Total revenue - Total cost
Profit = ($9*50 units) - ($4*50 units)
Profit = $450 - $200
Profit = $250
Thus, the firm's profit will be $250.
