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Tanzania [10]
3 years ago
7

Which of the following statements regarding budgets is true? a. Budgets are detailed forward-looking financial reports based on

expected income and expenses. b. Budgets describe a person’s financial position at a given point in time. c. Budgets measure a person’s financial performance at a given point in time. d. Budgets describe a person’s financial goals over a specific period of time. e. Budgets are historical documents that tell an individual how he or she has performed in the past.
Business
1 answer:
Shkiper50 [21]3 years ago
3 0

Answer:

a. Budgets are detailed forward-looking financial reports based on expected income and expenses.

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. Budgets are usually compiled, analyzed and re-evaluated on periodic basis.

The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.

The final step by the management of an organization in the financial decision making process is making necessary adjustments to the budget.

The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.

It is typically used by various organizations or companies due to the fact that, it's tied directly to the strategy and tactics of a company on an annual basis. Also, it is used to set a budget for marketing efforts while anticipating on informations about the company.

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Accounts receivable from sales to customers amounted to $40,000 and $32,000 at the beginning and end of the year, respectively.
natima [27]

Answer:

a. $118,000

Explanation:

When preparing a cash flow statement, using indirect method we add decrease in current assets and we deduct increase in current assets.

Here it is provided that income reported = $110,000

Opening balance of accounts receivables = $40,000

Closing balance of accounts Receivables = $32,000

Change in Accounts receivables = Closing - Opening = $32,000 - $40,000 = - $8,000

Therefore there is decrease in accounts receivables which is a current asset.

Thus Cash Flow from operating activities

Net Income = $110,000

Add: Decrease in current assets = $8,000

Net cash flow from operating activity = $118,000

Correct option is

a. $118,000

6 0
3 years ago
Twenty years ago, you began investing $250 a month. because your investments earned an average of 8 percent a year, your investm
DaniilM [7]
You invest $250/mo. over 12 months that equals $3,000 invested per year.
$250*12=$3,000/per year invested
$3,000 per year for 20 years equals $60,000 invested.
$3,000*20=$60,000 invested
8% of $60,000 is $4,800/per year.
0.08*$60,000=$4,800
$4,800 per year for 20 years equals $96,000 dollars earned on investments over 20 years.
3 0
4 years ago
Read 2 more answers
Business do not maximise output from the given inputs​
Ganezh [65]

Answer:

Allocative inefficiency.

Explanation:

Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.

In Economics, there are four (4) main factors of production and these are;

I. Land.

II. Labor (working).

III. Capital resources.

IV. Entrepreneurship.

When these aforementioned factors of production are combined effectively and efficiently, they can be used for the manufacturing or production of goods and services to meet the unending requirements or needs of the consumers.

Basically, there are two (2) types of inefficiency associated with the production of goods and services to meet the unending requirements or needs of consumers, these includes;

1. Technical (productive) inefficiency: it occurs when a company or business firm produce goods and services that consumers do not want.​ This is typically as a result of the incorrect and inefficient allocation of scarce resources by a business firm or entity.

2. Allocative inefficiency: it occurs when a company or business firm do not maximise output from the given inputs such as raw materials, capital, etc. Thus, it arises when businesses fail to increase the level of their production or productivity from a number of given inputs.

Hence, when a business do not maximise output from the given inputs, it is referred to as an allocative inefficiency.

<em>In conclusion, allocative inefficiency typically occurs when the price of a good or service isn't equal to its marginal cost i.e P ≠ MC.</em>

4 0
3 years ago
Which hr competency refers to the ways hr employees guide others in the organization?
Kazeer [188]

The HR consultation is the branch of Hr competence which refers to the ways hr employees guide others in the organization.

<h3>What is an HR consultation?</h3>

This refers to the practice of delivering all aspects of human resource management as an external provider including client development, contracts and client management.

Therefore, the HR consultation is the branch of Hr competence which refers to the ways hr employees guide others in the organization.

Read more about HR consultation

brainly.com/question/14866353

#SPJ1

8 0
2 years ago
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job orde
ValentinkaMS [17]

Answer:

• Cost of direct materials used $172,000

• Cost of direct labor $154,000

• Cost of goods manufactured $401,700

• Cost of goods sold $427,500

• Gross profit $1,472,500

Explanation:

Please see attached detailed solution to the above questions and answers.

7 0
3 years ago
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