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masya89 [10]
3 years ago
11

What could you do if your expenses each month continue to be more than your income ?

Business
1 answer:
Tasya [4]3 years ago
7 0

Answer:

Improve your budgeting skills

Explanation:

When your expenses each month exceeds your income, it probably means that your budgeting skills are ineffective or you don't have non at all. If you spend more than what you earn, then chances are high that you will need to borrow to service your excess expenditure. If you continue borrowing to meet your budget, then you might end up in perpetual debt where you are unable to pay back you loan. This often leads to a default, which can have some serious consequences to your credit. Luckily, there are various steps that one can take to meet their expenditure and also to put them on the right track towards financial independent.

The best way towards financial freedom is improving ones budgeting skills through the following methods;

1. Track your spending: most of the time people spend without necessarily knowing where their money goes. Expenditure tracking is a way in which you can record where your money goes. One will be surprised at how small cutting down on wants rather than needs can help in the long run.

2. Plan ahead: financial success needs one to plan ahead. Planning helps one avoid any surprises that might pop up. A plan is always like a map of showing you how much and when to spend your money.

3. If possible look for alternative sources of income: if there is a part-time job that you can do to an extra income, this could cover the excess expenditure above your income and elevate you from debt.

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E. All of the above.

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Presented below is selected financial information for Cullumber Company for December 31, 2022. Inventory $ 25,000 Cash paid to p
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Explanation:

Basically there are three types of activities:

1. Operating activities: It includes those transactions which affect the working capital, and it records transactions of cash receipts and cash payments.

2. Investing activities: It records those activities which include purchase and sale of the fixed assets

3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance.  

According to these above explanations

(A) Operating activities: Cash paid to suppliers 103,600 and Cash received from customers 132,100

(B) Investing activities:  Cash paid to purchase equipment $ 11,000

(C) Financing activities: Cash dividends paid 6,100, and Cash received from issuing common stock

Now the preparation of the cash flow statement is shown below:

Cash flow from operating activities:

Cash received from customers                            $132,100

Less: cash paid to suppliers                                -$103,600

Net cash flow from operating activities (A)            $28,500

Cash flow from investing activities:

Cash paid to purchase equipment                       -$ 11,000

Net cash flow from investing activities (B)             -$11,000

Cash flow from financing activities:

Cash received from issuing common stock           $21,400

Less: Cash dividends paid                                     -$6,100

Net cash flow from financing activities (C)         $15,300

Net cash increase (A+B+C)                                   $32,800

Add: Beginning cash balance                              $7,500

Ending cash balance                                            $40,300

5 0
3 years ago
The ability to meet short-term obligations and to efficiently generate revenues is called?
Rama09 [41]

The ability to meet short-term obligations and efficiently generate revenues is called Liquidity and efficiency.

When a financial asset or security may be quickly and easily converted into cash without depreciating in value, this is referred to as having liquidity.

In other words, the degree to which an asset may be swiftly purchased or sold on the market at a price representing its underlying value is referred to as liquidity. Due to its ease and speed of conversion into other assets, cash is regarded as the most liquid asset.

Business efficiency is the amount of output a firm or organization can create given the time, money, and resources available. In other words, a company's efficiency refers to how well it can turn resources like labor, capital, and raw materials into services and goods that generate income.

To learn more about Liquidity and Efficiency refer to:

brainly.com/question/14611247

#SPJ1

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