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Andrew [12]
3 years ago
12

Characteristics of budgets include: (Check all that apply.) Multiple select question. a focus on the past. typically span a mont

h, quarter or one year. expressed in monetary terms. formal statement of a company's plans. typically span 5 to 10 years. expressed in nonfinancial terms.
Business
1 answer:
const2013 [10]3 years ago
6 0

Answer:

I. typically span a month, quarter or one year.

II. expressed in monetary terms.

III. formal statement of a company's plans.

Explanation:

A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year.

Basically, budgets are usually compiled, analyzed and re-evaluated on periodic basis such as monthly, quarterly or annually.

Some of the important characteristics of budgets include:

I. It typically span a month, quarter or one year.

II. It's expressed in monetary terms.

III. It's a formal statement of a company's plans.

Furthermore, some of the benefits of having a budget are; it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.

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What is the most important type of decision that the financial manager makes?
WITCHER [35]

Answer:

The most important decision a financial manager can make is the allocation of funds to various investments

6 0
2 years ago
Read 2 more answers
Indicate what components of GDP (if any) each of the following transactions would affect. a. Your parents buy a new house from a
Ira Lisetskai [31]

Answer:

a. Consumption spending

b. consumption spending

c. government spending

d. investment

e. consumption and investment

f. consumption spending

g. not included in GDP

Purchase of a Toshiba laptop is consumption spending

Explanation:

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

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports – imports

When exports exceeds import there is a trade deficit and when import exceeds import, there is a trade surplus.  

Items not included in the calculation off GDP includes:  

1. services not rendered to oneself

2. Activities not reported to the government  

3. illegal activities

4. sale or purchase of used or old products

5. sale or purchase of intermediate products

Consumption spending includes expenditures by households on durable and non durable goods and services

the following are durable consumption by households and are included in the calculation of GDP :

Purchase of a house

Purchase of a mustang

Purchase of an air conditioner

purchase of a  computer

the purchase of the old Victorian house isn't included in the calculation of GDP because it is old. Only items produced in the current year are included in the GDP. if the old home is counted, it would be double counting

hiring an accountant is an example of purchase of services by households and it is consumption spending.

Spending by businesses are included in investment spending.

expenditure by the government or state are included in government spending

4 0
3 years ago
The following events occurred for Favata Company: a. Received $10,000 cash from owners and issued stock to them. b. Borrowed $7,
Marina86 [1]

Answer:

(a)

Increase in Cash of $10,000 and Increase in Common Stock account of $10,000

Asset increases by $10,000; Owner's equity increases by $10,000. Accounting equation remains in balance.

(b)

Increase in Cash of $7,000 and Increase in Short-term Note Payable account of $7,000

Asset increases by $7,000; Liability increases by $7,000. Accounting equation remains in balance.

(c)

Increase in Fixed Asset of $800 and Increase in Account Payable account of $800

Asset increases by $800; Liability increases by $800. Accounting equation remains in balance.

(d)

Increase in Fixed Asset of $12,000, Decrease in Cash of $1,000 and Increase in Long-term Note Payable account of $11,000

Asset increases by $11,000; Liability increases by $11,000. Accounting equation remains in balance.

(e)

Increase in Fixed asset of $3,000, Decrease in Cash of $1,000 and Increase in Account Payable account of $2,000

Asset increases by $2,000; Liability increases by $2,000. Accounting equation remains in balance.

Explanation:

Explanation is given in Answer part

6 0
3 years ago
Luther Corporation Consolidated Balance Sheet December​ 31, 2006 and 2005​ (in $​ millions) Assets 2006 2005 Liabilities and ​St
jeyben [28]

Answer:

Luther Corporation

Current Ratio for 2006 is closest to:

1.1 : 1

Explanation:

a) Data and Calculations:

Total Current Assets = $144 million

Total Current Liabilities = $132 million

Current Ratio = Current Assets/Current Liabilities

= $144/$132

= 1.1 : 1

b) Luther Corporation's current ratio is a liquidity measure that shows Luther's ability to pay off short-term obligations worth $132 million or those due within one year with its current assets of $144 million.  The ratio tells investors and analysts of Luther Corporation how Luther can use its current assets to pay off its current debts.  Since Luther's current ratio is higher than 1, it is considered good, depending on the industry average.  This means that Luther's current ratio of 1.1 : 1 should not be considered in isolation, but in comparison with other firms in the industry and its performance over a number of years.

6 0
3 years ago
Briefly describe a customer experience you have personally encountered where you were unsatisfactory when you purchased a good.
sattari [20]

Answer: Faulty Mother board ordered on AliExpress

Explanation:

A while back my Laptop developEd power issues wasn’t turning on, took it down to the technician who told me it had board issues as it wasn’t responsive. And the only solution was me getting a new mother board. Well i ended up ordering the board from Abroad on Aliexpress the board arrived damaged Was bent all efforts to get a refund or a replacement was proving difficult as the seller and AliExpress were hell bent on frustrating me. At the end was refunded but that was like over a month was one hell of an experience.

6 0
3 years ago
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