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likoan [24]
3 years ago
13

Christie makes changes to her budget at the end of every month. What is her reason for doing this in terms of smart financial pl

anning?
a. She keeps changing her mind about her goals.

b. She is reviewing her goals and aligning the budget to work toward them.

c. Her needs keep changing, so she changes her monthly budget.

d. She is not satisfied with the monthly budget outcome.
Business
2 answers:
Tems11 [23]3 years ago
6 0

Answer:

The correct answer is letter "B": She is reviewing her goals and aligning the budget to work toward them.

Explanation:

Smart financial planning is the strategy by which individuals or corporations adjust their budgets according to the current situation they face. The adjustments are done as many times as necessary to accomplish the goals those individuals or firms have set.

In Christie's case, the reason why she adjusts her budget by the end of every month is that she needs to match her expenses with her objectives so she can reach them.

Virty [35]3 years ago
5 0

Answer:

What is her reason for doing this in terms of smart financial planning?

A.  

She keeps changing her mind about her goals.

<em><u>B.  </u></em>

<em><u>She is reviewing her goals and aligning the budget to work toward them. </u></em>

C.  

Her needs keep changing, so she changes her monthly budget.

D.  

She is not satisfied with the monthly budget outcome.

Explanation:

#platofam

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Net income is $2,474,000

Retained earning for the year 2017 is $2,142,000

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A multi-step income statement is an income statement that shows gross profit and the detailed of each category of expenses and incomes to arrive at the net income of a company for a particular period.

This can be prepared as follows:

Kingbird Company

Mutiple step income statement

for the year ended December 31, 2017

<u>Details                                                                  $         </u>

Sales Revenue                                           26,100,000

Cost of goods sold                                  <u>  (16,100,000) </u>

Gross profit                                                10,000,000

Operating expenses:

Selling and administrative expenses      <u>  (4,710,000) </u>

Operating income                                       5,290,000  

Other income (loss):

Gain on the sale of investments                     111,000

Write-off of goodwill                                      (821,000)

Loss due to flood damage                            (391,000)

Interest income:

Interest revenue                                          <u>     71,000  </u>

Income before tax                                       4,260,000

Income taxes for 2017                              <u>  (1,254,000) </u>

Income after tax                                          3,006,000

Extraordinary items:

Loss on wholesale div. disp. (net of tax)      (441,000)

Loss on wholesale div. op. (net of tax)       <u>   (91,000) </u>

Net income                                                   2,474,000

Preferred stock dividend                                (81,000)

Common stock dividend                           <u>     (251,000) </u>

Retained earning for the year 2017             2,142,000

Retained earnings balance, Jan. 1, 2017   <u>     981,000 </u>

Retained earnings bal., Dec. 31, 2017       <u> 3,123,000 </u>

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