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PilotLPTM [1.2K]
3 years ago
8

Which of the following is correct with respect to rainy day funds? Multiple Choice Rainy day funds are classified as committed o

r restricted if imposed externally or by law. Rainy day funds are classified as unassigned if the funds are available for emergencies or revenue shortfalls which may be accessed on an ongoing basis. Both of the choices are correct. Neither of the choice is correct.
Business
1 answer:
Viefleur [7K]3 years ago
4 0

Answer:

The correct answer is letter "A": Rainy day funds are classified as committed or restricted if imposed externally or by law.

Explanation:

Rainy day funds refer to reserves of resources states keep in case of emergencies or budget shortfalls. These funds are reserved for periods when revenues do not meet expectations and expenditures are higher. Rainy day funds are also used when the state should not incur debt because its financial situation is not optimal.

<em>Rainy days are classified as committed if created by resolution and, in such cases, the purpose of those funds is specified.</em>

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A dollar available today is always worth more than a dollar not available until a future period.
Lostsunrise [7]

Answer:

The statement is: True.

Explanation:

The Time Value of Money is a concept that states a dollar today is always worth more than a dollar tomorrow. The theory relies on the earning capacity of money. The approach is the reason why entrepreneurs prefer to capitalize on their investments the soonest so the more money available now will represent for them more money accrued in the future.

8 0
3 years ago
​Apple has made a success from anticipating what consumers would want in new technological advances, convenience, and ease of us
Nady [450]

Answer:

core competency

Explanation:

Based on the information provided within the question in regards to the situation at hand it can be said that the iPad was a core competency for Apple. This term refers to the use of a company's resources and skills to create something in order to set it apart and give the company a competitive advantage in a market. Which is exactly what the iPad did for Apple.

If you have any more questions feel free to ask away at Brainly.

7 0
3 years ago
Inc. reported the following information about the production and sale of its only product during the first month of​ operations:
Effectus [21]

Answer:

Cost of Goods Sold = $ 400,000

Explanation:

Units Sold = $360,000/ $225= 1600

Sales ​                                                                  $360,000

Direct materials ​$176,000

Direct labor ​$100,000

Variable factory overhead ​$44,000

Fixed factory overhead ​$80,000

Total Manufacturing Costs   $ 400,000

Variable selling and administrative expenses ​$20,000

Fixed selling and administrative expenses ​$10,000

Cost of Goods Sold = $ 400,000

As ending Inventory Finished Goods is 400 units it is not included in the Cost of Goods Sold.

3 0
3 years ago
Veneer Company has two service departments and two producing departments. The number of employees in each department is: Personn
Vadim26 [7]

Answer:

$13,532 .00

Explanation:

The cost allocation is usually based on a measurable factor such as area occupied, number of students etc. The more the measurable factor related to a unit/department, the more the cost assigned to the departments on the basis of the size of the measurable value.

Total number of employees

= 640

the amount of cost allocated to Department B under the direct method would be

= 199/640 * $43,520

= $13,532

3 0
3 years ago
interest cost (the increase in pension costs due to the passage of time), the expected return on plan assets (the amount that ma
marishachu [46]

Answer:

The change in operating income for GM is that the operating income will increase by the amount of other pension costs less expected returns.

However, this change will not affect the net income, as all the items will still be accounted for, accordingly.

Explanation:

GM's pension service cost is the present value of the amount that the GM is required by law to set aside annually to meet its employees' pension-benefits obligations.  The reason for the separation is that the service cost is a compensation cost, whereas other pension costs are financial costs and not compensation costs.  By this separation, the operating income of GM will increase.

3 0
2 years ago
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