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4 years ago

Budgeting competency requires the ability to:__________

Business

1 answer:

Sever21 [200]4 years ago

5 0

Answer:

d. All of the above

Explanation:

A budget can be defined as a financial plan of estimated revenues, resources and expenses over a specific period of time in a particular country. It is usually reevaluated based on future plans and objectives periodically, typically on an annual basis. Thus, budgets are usually compiled, analyzed and re-evaluated on periodic basis.

Budgeting competency requires the ability to:

a. Define the production system.

b. Quantify expected operations in dollars.

c. Analyze actual results considering the budget to determine where costs were better or worse than expected.

Additionally, the first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.

The final step by the management of an organization in the financial decision making process is making necessary adjustments to the budget.

<em>The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies. </em>

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antiseptic1488 [7]

Use or application. They are suggesting the consumers use cereal for more than just the normal use of a bowl of cereal with milk. The goal is to increase sales because people will use more product for more application.

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3 years ago

"Cookie jar reserves" can best be described as:_______.A) Buying a lot of chocolate chip cookies, storing them for when you have

TEA [102]

Answer:

C) Overstating or understating allowances and reversing amounts in the future to smooth out net income over time.

Explanation:

Cookie jar reserve is defined as an accounting practice by businesses where the profit a company makes from successful years are reserved to cover up for years with losses. It balances losses from unsuccessful years.

Investors are led to believe that losses in bad years are less than they actually are.

For example not allocating an expense to a particular accounting year but instead allocating it to a year when the company made profits.

In essence it is overstating or understating allowances and reversing amounts in the future to smooth out net income over time.

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3 years ago

How has Groupon effectively used personal selling, advertising, and public relations to market its products?

Rainbow [258]

Groupon effectively uses personal selling, advertising, and public relations to market its products and service by Maintaining a good relationship with the customers by providing easy usage on the application as the customers are convenience. Groupon will effectively use its marketing budget in this campaign to creatively reach consumers and achieve lasting brand loyalty

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3 years ago

When the Shaffers had a monthly income of $4,000, they usually ate out 8 times a month. Now that the couple makes $4,500 a month

choli [55]

Explanation:

Income Elasticity of Demand(IED)= Percentage change in quantity demanded/ Percentage change in income

-Percentage change in Q:

%Change in quantity demanded= (q2-q1/q1) = (10-8)/8= 0.25

-Percentage change in Income:

%Change in income= (i2-i1/i1) = (4,500-4,000)/4,000= 0.125

IED= 0.25/0.125= 2

This indicates that the Shaffers are very sensitive to changes in income when it comes to eating out. Which means that changes in income will change significantly the number of times they eat out.

2. Restaurant meals are normal goods, in this case, because when income rises, they ate more in restaurants, then the units consumed for this good increase too.

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3 years ago

Read 2 more answers

The stage during which goals are set is

Tju [1.3M]

<span>Individuals with an internal locus of control are more likely to see their behavior as something they can adapt or change. This is a psychology term denoting that individuals take full responsibility of their actions and has the ability to will their actions because they know they could do it. Instead of asking for others’ support, the person owes up himself and changes himself for the better. Whatever he does is for himself however he does not stop himself from helping other people if needed. He does not fear failures because he knows he could get out from it.</span>

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3 years ago