Successful business people never take their eye off the one thing that made them successful in the first place: the primary function of any business is making money. You can't make money without customers or clients (unless you're in the business of robbing banks or bribing politicians).
Answer:
C)
In order to use the Cost-Benefit Principle correctly we need to compare the marginal benefit of the new spending, which is $25 million, with the marginal cost of the new spending, which is $50 million. This new spending makes no economic sense.
Explanation:
The cost-benefit principle in accounting states that the additional benefit must outweigh additional cost in an accounting system.
Spending of $250 million is giving $400 million revenue. The new proposal of spending $300 million to get $425 million implies we are spending extra $50 million to make extra $25 million.
This is not a good investment according to the cost-benefit principle.
Answer:
Budgeting tools provide notifications and reminders to help us keep track of our spending and savings.
Explanation:
We may use a budgeting program to keep track of how much we spend. Budgeting tools can assist us in reducing undesirable and unneeded spending. It can also help us be more disciplined with our spending and save more money. We may set up notifications or reminders to help us keep track of our spending.
Answer:
budget software
spreadsheet
Mint©
Mvelopes®
Explanation:
The spreadsheet is also the same as Excel. It used to organize and analyze expenses and identify how your expenses can be reduced
Mint© is an online expensive tracking device, that can be used to track credit score and manage expenses.
Budget software is budgeting and expensive tracking device. It can be used to track credits cards and bank account
Mvelopes® is an online expensive tracking device that is used in taking care of the budget.
Answer:
b. False
Explanation:
LIFO stand for Last in First Out. This means LIFO inventory valuation is based on earlier goods purchased.
So, when costs are decreasing, they are affecting latter prices and this usually affect FIFO (First in First Out) not LIFO.
