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3 years ago

Which step of formulating a financial budget involves using forecasting techniques to help predict revenue?

Business

1 answer:

Tamiku [17]3 years ago

6 0

Answer: The correct answer is (A): planning and gathering financial information.

Explanation: Forecasting technique is used while planning and gathering financial information. This step helps in predicting revenue. Formulation of financial budget depends on the size and type of the business. This information is used by organization for developing their budgets. It helps to forecast the future, anticipate risks and prevent them.

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Bramble Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follow

Alecsey [184]

Answer:

Bramble Company

The gross profit for the month is:

$2,588.50

Explanation:

a) Data and Calculations:

Selling price = $12

Date Units Per unit price Total Balance,

Beginning Inventory 1/1/18 200 $6.00 $1,200

Purchase, 1/15/18 70 5.30 371

Purchase, 1/28/18 70 5.40 378

Cost of goods available 340 $1,949

Calculating the cost of goods available for sale allocated to, using FIFO:

Ending inventory 1/31/18 85 (70 * $5.40 + 15 * $5.30) = $457.50

Cost of goods sold, 255 units ($6.00 * 200 + 55 * $5.30) $1,491.50

Income Statement, December 31, 2018:

Sales Revenue = ($12 * 340) $4,080.00

Cost of goods sold 1,491.50

Gross profit $2,588.50

3 0

3 years ago

Greg's agrees to buy hal's sports store on condition that he is approved by first state bank for the financing. this approval is

Maksim231197 [3]

The approval in which Greg's agrees to buy Hal's sports store on condition that he is approved by first state bank for the financing is condition precedent. The condition precedent is a condition that is required in order something else to occur<span> and must come to pass before a specific contract is considered.</span>

6 0

3 years ago

Dmitri recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from

Lelechka [254]

Answer:

B. FALSE

Explanation:

This economy is currently at its natural rate of unemployment because there is <u>no cyclical unemployment</u>

In macroeconomics, <u>full employment is the level of employment rates where there is no cyclical or deficient-demand unemployment. </u>

<u>The economy is considered to be at full employment when the actual unemployment rate is equal to the natural rate</u>.

Hence, it is false to allege that the economy in the given scenario is not currently at its natural rate of unemployment

7 0

3 years ago

A country produces only one good. It produced 5,000 units of the good during Year 1 and 6,000 units of the good in Year 2. The

Veseljchak [2.6K]

Answer:

.A) $1, 920,000

Explanation:

Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.

Nominal GDP is the GDP of country using current year prices

Nominal GDP = current year price × quantity

(6000 × 320) = $1,920,000

I hope my answer helps you

3 0

3 years ago

g Money is best defined as whatever serves society in three functions: medium of exchange, store of value, and unit of account.

worty [1.4K]

Money is best defined as whatever serves society in three functions: medium of exchange, store of value, and unit of account.

Barter is best defined as a situation where two individuals each want some or service that the other can provide.

A double coincidence of wants is a situation where two individuals each want some or service that the other can provide.

<h3>What is money?</h3>

Money is anything that is accepted by the general public as a means of payment for products and for repayment of debt.

<h3>What are the functions of money?</h3>

Medium of exchange : money can exchanged for goods and services.
Unit of account : money can be used to determine the value of goods and services
Store of value : money can retain its value over the long term.

<h3>What is barter?</h3>

Barter is when people exchange goods with goods. For barter to occur, there has to be a double coincidence of wants. This means that someone has to have what you want and that person wants what you have.

To learn more about money, please check: brainly.com/question/940436

7 0

2 years ago