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Natalka [10]
3 years ago
6

Refining Estimates may be necessary for a number of reasons. For example, a manager getting further into a project and obtaining

a better understanding of what needs to be done to accomplish a project and meet the needs of the customer is an example of ____
Business
1 answer:
AnnyKZ [126]3 years ago
6 0

Answer: changes in project scope

Explanation:

Project scope is the planning of how a particular project will be accomplished, which includes highlighting and properly stating the project goals, documenting the quantity and quality of materials needed, costing, scheduling tasks, and setting deadlines.

In the case above the manager has already started the project which has an existing plan, then realises that some changes had to be made, after obtaining more information and understanding about the project.

Therefore the project scope had to be revised.

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Exercise 20-18 Budgeted cash receipts LO P2 Jasper Company has sales on account and for cash. Specifically, 70% of its sales are
horsena [70]

Answer:

$1,756,600.

Explanation:

                                         P2 Jasper Company

                                     Budgeted cash Receipt

                                           For the 2nd quarter

                                                           April                   May                  June

Accounts Receivable                        $400,000

70% in the month of Sale                  $367,500          $374,500      $392,000

30% in the month after Sale                                        $110,250        $112,350

Budgeted cash receipt                     $767,500           $484,750       $504,350

Total budgeted cash receipt for the 2nd quarter = $767,500 + $484,750 + $504,350 = $1,756,600.

30% in the month after sale means 30% amount will be received in the following month.

6 0
3 years ago
The emphasis on keeping customers for long periods of time is the central focus of ______ value and the reason firms focus on cu
Archy [21]

Answer:

Customer Lifetime Value

Explanation:

Customer Lifetime Value is a measure of how much amount of money a customer spends on your business/products/services over the course of his whole lifetime.

It is a predictor of how well you are doing to retain your existing customers.

Why is it important?

suppose you spend $10 to advertise your product (belt) and a customer buys 5 belts on average every year for 15 years. You get $12 profit for each belt sold.

12*5*15= 900$

Subtract the advertising cost

900-10=890$ This is your customer lifetime value

Now imagine what would have happen if we had to sell these belts to 75 different customers?

The advertising cost to attract 75 customers would have been too much and hence net profit and customer lifetime value would be very less.

75*10=750$

900-750=150$

This is why customer lifetime value is important and businesses focus on retaining their customers for longer periods.

3 0
3 years ago
Wages are defined as ______. a) financial rewards based on the number of hours the employee works or the level of output achieve
Sidana [21]

After every service rendered, there is a payment for it. when it is hourly, it is termed wages, when it is monthly, then, it is called salary.

Wages are defined as ______. a) financial rewards based on the number of hours the employee works or the level of output achieved

<h3>Wages</h3>

Wages a payment usually of money for labor or services usually according to a contract and on an hourly, daily, or piecework basis.

Therefore, the it refers to rewards based on the number of hours the employee works or the level of output achieved.

learn more about wages: brainly.com/question/1622389

6 0
2 years ago
Financial statements should be useful. Which of the following is not one of the qualities of useful financial representation.
AlexFokin [52]

Answer:

A. Expand-ability Relevance

Explanation:

Financial statements does not need expansion, therefore expand-ability relevance is not one of the qualities of financial statements.

A. Faithful representation- financial statements must be a faithful representation of the state of the entity. it should represent the correct position of the entity.

B. Comparability - The financial statements must be prepared in accordance with acceptable standard to ensure comparison within and without the entity.

C. Consistency and Verifiability - The numbers must be verifiable and methods choosing in treating certain items must be consistent over time.

8 0
3 years ago
The time value of money refers to the issue of:
uysha [10]

Answer:

D. what the value of the stream of future cash flows is today

Explanation:

The times' value of money derives that today value or we can say the present value is more than the value earned at the future or future value because of the earning capacity due to inflation. As inflation rises, consumer spending become less as compare to before

Just take an example

If you invest $1,000 today that earns the interest rate at 10% for one year

So, the present value = $1,000

And, the future value = $1,000 × 1.1 = $1,100

So, today value is becoming more worth than the future value  

The formula to compute the future value is shown below:

Future value = Present value × (1 + interest rate)^number of years

Note: The yoda is actually today. It is given wrong

7 0
3 years ago
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