Answer: a. $56925 ; b. Account payable
Explanation:
a. If Hoffman Company pays the invoice within the discount period, what is the amount of cash required for the payment?
Purchase invoice = $65000
Less: Return = ($7500)
Net Purchase Invoice = $57500
Less: Discount = $57500 × 1% = $575
Cash received = $56925
b. What account is debited by Hoffman Company to record the return?
The account that is debited by Hoffman Company to record the return is the account payable.
Answer:
C. inefficiences may be concealed in the past performance.
Explanation:
A major drawback of using historical results for judging current performance is that inefficiences may be concealed in the past performance.
Answer: Tactical plan
Explanation: In simple words, tactical planning refers to the segmentation of strategic planning in shorter time periods. It focuses on determining the course of actions for departments of an organisation but for a short time period.
In the given case, Kyle is estimating various requirements of the organisation for next six months.
Hence from the above we can conclude that she is creating tactical plan.
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