Their vast numbers translate into economic clout and political power
        
             
        
        
        
Answer:
True
Explanation:
The incremental budget technique is an important management accounting technique, which is prepared by making minimal changes in the previous budget. The budget is designed by allocating funds by using the preceding budget as a reference point. Incremental budget encourages spending up to the budget. It also helps to make sure that a reasonable budget is allocated for the next period.
 
        
             
        
        
        
Answer:
a.	$2,465.82
b.	$3,539.68
c.	Yes, we should
Explanation:
Annual cost to maintain old forklift is $5,000
Equivalent Annual Cost (EAC) of new forklift = (Asset price x discount rate)/(1-(1+discount rate)-n), in which n is the number of year for usage of this forklift?
If discount rate is 4% per year, the EAC of new forklift is $2,465.82  
= ($20,000x4%)/(1-(1+4%)-10)
If discount rate is 12% per year, the EAC of new forklift is $3,539.68  
= ($20,000x12%)/(1-(1+12%)-10)
We should replace because with such above discount rate, the old forklift is more costly than the new one
 
        
             
        
        
        
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