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zysi [14]
3 years ago
11

Budgeting competency requires the ability to:__________

Business
1 answer:
Sever21 [200]3 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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Company G takes advantage of the Internet and flexible manufacturing to create products that vary depending on the market it is
fiasKO [112]

Answer:  localization

Explanation: In simple words, localization refers to the prices in which a commodity is made in such a way that it matches with the taste and preference of local consumers that are actually targeted by the company.

            Localization helps a firm to sell its product by making individuals feel connected to the product on cultural basis. Localization instantly makes the customer feel that the offered product can be used in his or her daily life.

       Food chains like McDonald and subway providing extra spicy products in their menus in amaretto of India is a prime example of localization.

6 0
3 years ago
A firm with a production function Q = KL (where K is units of capital and L is units of labor) has an expansion path that is giv
Charra [1.4K]

Answer:

C. 120

Explanation:

The computation is shown below:

                                      (L × K)

<u>Labor L      Capital K   Quantity of Output Q         Total cost TC</u>

1                    2                      2                                       $40

2                   4                      8                                       $80

                                                                   (2 × $20 + 4 × $10)

3                    6                    18                                       $120

                                                                  (3 × $20 + 6 × $10)

4                    8                     32                                      $160

                                                                 (4 × $20 + 8 × $10)

As we can see that if we considered 3 units of labor so the total cost is $120

Hence, the correct option is c.

4 0
3 years ago
What are factors of production?
Reika [66]
C: all the physical tools and equipment used in the production process. That would be the answer
4 0
3 years ago
Something you enjoy or want to know more about is a(n) _____.
gtnhenbr [62]
The answer is B. Interest
3 0
3 years ago
Read 2 more answers
Argo, a firm organizing adventure travel, has returns that vary with the economy. Argo predicts that there is a 20% probability
nexus9112 [7]

Answer: 8%

Explanation:

The expected return is a weighted average of the returns given the probability of certain states of the economy:

= (Prob. of boom * return if boom) + (Prob. of normal * return if normal) + (Prob. of  weak * return if weak)

= (20% * 35%) + (50% * 14%) + (30% * -20%)

= 0.07 + 0.07 - 0.06

= 8%

5 0
3 years ago
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