Answer: ($81,000)
Explanation:
From the information given, we are informed that Vinton Company is divided into North and South regions. We are further informed that the company's costs were under budget by $36,000 while the North Region’s costs were over budget by $45,000.
The amount that the South Region's costs were over or under budget will then be:
= ($36,000) - $45,000
= -$81,000
Therefore, South Region's costs were under budget by $81,000
Answer:
(a) Trace the effect of this change through three banks- First National, Second Federal, and Third State.
Antonia deposits $2,000 in First National Bank.
Then First national Bank lends $1,600 to client X that uses the money to purchase something. The seller of that something deposits the money In Second Federal Bank.
Second Federal Bank then lends $1,280 to client Y that decides to use that money to pay his rent. Client Y's landlord then deposits the money in Third State Bank.
Third State Bank will then lend $1,024 to client Z...
(b) How much money will be generated in this banking system?
total money generated in the banking system = Antonia's deposit x money multiplier
money multiplier = 1 / required reserve rate = 1 / 0.2 = 5
so the total money generated = $2,000 x 5 = $10,000
Answer:
Collectivism; democratic; totalitarian.
Explanation:
Political systems, the systems of government in nations, differ from country to country. It is important to understand the nature of different political systems and develop an awareness of and appreciation for the significance of national differences. Political systems are assessed according to two dimensions. The first is the degree to which they emphasize collectivism as opposed to individualism. The second is the degree to which they are democratic or totalitarian. These dimensions are interrelated and may share certain characteristics.
Collectivism can be defined as an economical, political or cultural system in which communities (group of people) are generally valued over individuals.
On the other hand, individualism is a sharp contrast to collectivism because it is an economical, political or cultural system in which individuals are generally valued over communities (group of people).
Also, a democratic government is a form of government of the people, by the people and for the people.
Totalitarianism can be defined as a form of centralized government that has an absolute control over the state. Thus, totalitarianism completely prohibits individual freedom, opposing ideologies, principles, political parties, and requires the people to be subservient to the state.
Simply stated, totalitarianism is an autocratic or dictatorial form of government.
Answer:b. net income is overstated
Explanation:
The cost of inventory which is a constituent of cost of goods sold will have an impact on the income, an higher cost of inventory means low net income and lower cost of inventory means an higher net income. Therefore if the inventory is understated it leads to profit overstatement.
Net income will not be understated because a cost item has been understated but it will only be overstated, cost of merchandise sold is understated but this is the action and not the effect, merchandise on the balance sheet will be understated and not overstated.
Answer:
A reduction of top management's control of the budget process to one of oversight.
Explanation:
Budgeting can be defined as a financial plan which helps different organizations in the control of their various revenues. Budgeting can also be described as a forecast of how much a company expect to sell and also how much they expect to spend on various costs.
Advantages of budgeting include:
- It helps an organization to achieve their objectives and goals.
- It helps businesses to decide on essential areas to channel their resources to.
Disadvantages of budgeting include:
- a budget may be inaccurate because it is prepared on the basis of assumptions.
- it is expensive and consumes a lot of time.
