Answer:
1. Flexible budget: A summarized budget for several levels of volume that separates variable costs from fixed costs. ▼ a.
2. Static budget: A budget prepared for only one level of sales. ▼ d.
3. Variance: The difference between an actual amount and the budgeted amount. ▼ e.
4. Flexible budget variance: The difference arising because the company actually earned more or less revenue, or incurred more or less cost, than expected for the actual level of output. ▼ b.
5. Sales volume variance: The difference arising only because the number of units actually sold differs from the static budget units. ▼ c.
Answer:
FTC: prohibits deceptive practices and provides information about choosing products
SEC: prohibits insider trading and regulates brokers and investment advisers
Answer:
- <u><em>1. CPI in the subsequent year: 1,135</em></u>
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- <u><em>2. Rate of inflation: 13.5%</em></u>
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Explanation:
<u>1. Calculate the CPI</u>
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<em>CPI </em>is the consumer price index.
CPI is created using a basket of goods and services that are typically consumed.
In the given case the typical basket is:
- Gasoline and car maintenance
- Phone service (basic service plus 10 long-distance calls).
Then to find the CPI for a determined year you multiply each item by its price and then add up all the results.
For the base year, the expenditures per month were:
- 25 pizzas at $ 10: $10 × 25 = $250
- Gasoline and car maintenance: $100
- Phone service (basic service plus 10 long-distance calls): $50
Then, the CPI for the base year is:
- CPI = $250 + $600 + $100 + $50 = $1,000
The year following the base year, the expenditures per month are:
- 25 pizzas at $ 11 : $11 × 25 = $275
- Gasoline and car maintenance: $120
- Phone service (basic service plus 10 long-distance calls): $40
Then the CPI for the followng year is:
- CPI = $275 + $700 + $120 + $40 = $1,135
<u>2. Calculate the rate of inflation</u>
The rate of<em> inflation</em> is defined as the increase of the CPI of the given year with respect ot the base year:
The formula to calculate the rate of inflation is:
- Inflation = (CPI of the year - CPI of the base year) / (CPF of the base year) × 100
- Inflation = [ (1,135 - 1,000) / (1,000)] × 100 = 13.5%
Hence, <em>the rate of inflation for the subsequent year is 13.5%</em>
Functional you can use like a purse and a decorative one just makes you look pretty like earings
Answer:
The proper IFRS presentation is:
d. Listing current assets before noncurrent assets, and listing Current Liabilities before Retained Earnings
Explanation:
The above listing is in the order of liquidity, especially of current assets and noncurrent assets. This listing shows all the current assets before the noncurrent assets with Cash, Accounts Receivable, etc following that order for the listing of current assets. And the more permanent assets are listed last. Similarly, for the Liabilities and Equity side, the Current Liabilities are listed first before the Noncurrent Liabilities followed by Equity (Share Capital and Retained Earnings) in that order.
