In the context of business management, the purpose of budgeting includes the following three aspects:
•A forecast of income and expenditure (and thereby profitability)
•A tool for decision making
•A means to monitor business performance
Answer:
None of the options are correct
Explanation:
The train would cost her, which is computed as:
= Cost + (Hours × Opportunity Cost)
= $400 + (4 hours × $15 per hour)
= $400 + $60
= $460
The driving would cost her, which is computed as:
= Cost + (Hours × Opportunity Cost)
= $250 + (6 hours × $15 per hour)
= $250 + $90
= $340
Savings = Train Cost - Driving Cost
= $460 - $340
=$120
None of the options are correct as the she would save $120.
Cost = $4,000
Revenues = $3,200 per year
Life = 5 years
Payback period calculation:
Year ----- Cash flow -------- Investment
Yr 0 ----- ------------ -4,000
Yr 1 ------ 3,200 ----------- -800
Yr 2 ------ 3,200 -------------- 0
Payback period lies between year 1 and 2.
Therefore,
Payback period = 1+ 800/3200 = 1+0.25 = 1.25 years
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