Answer:
The correct answer is letter "B": That is useful in decision making.
Explanation:
Financial reporting is the activity every business organization engages to analyze the current situation of the company's operations to take decisions. The Financial Statements are the core instruments firms review to find out how is the firm performing and what points could be improved to maximize the revenue.
Answer: Cash budget
Explanation:
The cash budget is the term which is used to define cash flow in the business as it helps in establishing a specific budget by proper analyzing on the outgoing flow and the inflow in an organization.
Th Cash flow is one of the important concept which is typically used by the various types of organizations for operating all the expenses and the the cash budget is used to avoid the problem of cash shortage.
According to the given question, the Cash budget is basically providing Charlie with some valuable data or information by proper estimation regarding the requirement of firm. Therefore, Cash budget is the correct answer.
Answer:
Relevant Range
Explanation:
The production range between 120000 and 150000 is called the "Relevant range".
This production range is called Relevant range because the expected fixed cost will not vary if the production is in the range 120000 to 150000.
Also, the for increase in production more than 150000 will lead to the extra cost or if the production is less than 120000 the company may need to reduce its fixed cost.
Answer: The correct answer is "D. It begins when the engagement letter is signed and continues until the report for the third year is issued unless the relationship is terminated sooner.".
Explanation: The statement "It begins when the engagement letter is signed and continues until the report for the third year is issued unless the relationship is terminated sooner." best describes the period of the professional engagement as it applies to a three-year engagement to audit client's financial statements since this type of professional commitment begins with the signing of the document that formalizes the commitment and is in force until the issuance of the last report unless the relationship is resolved beforehand by another circumstance.