The financial management practices which are least effective in creating and monitoring an operating budget include top down/bottom up budgets, poor inventorying, lack of control, over control, and lack of staff investment.
In business, financial management includes the practice of making a business plan and then ensuring that all departments which falls under it stay on track and work properly.
Creating and monitoring an operating budget for the national government involves four distinct processes which are, budget preparation, budget authorization, budget execution and accountability.
Hence, the operating budget helps in keeping track of the income and expenses in an organization.
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Answer:
consumer spending, investment spending, government purchases of goods and services, and net exports.
Explanation:
The Gross Domestic Products (GDP) is a measure of the total market value of all finished goods and services made within a country during a specific period.
Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country.
Gross domestic product (GDP) may be calculated as the sum of consumer spending, investment spending, government purchases of goods and services, and net exports (exports minus imports).
Basically, the four (4) major expenditure categories of GDP are consumption (C), investment (I), government purchases (G), and net exports (N).
Answer:
The future value is $6,894.21
Explanation:
Giving the following information:
Dominic Joseph deposits $5,000 in a new savings account. The account pays 5.5 percent interest compounded annually.
To calculate the future value, we need to use the following formula:
FV= PV*(1+i)^n
PV= 5,000
i= 0.055
n=6
FV= 5,000*(1.055)^6= $6,894.21
Answer:
Ophelia Inc.
Assuming that the company utilizes the allowance method, Ophelia should record a(n):
decrease in Accounts Receivable
Explanation:
This means that the accounts receivable will be credited while the allowance for doubtful accounts is debited to record the decreased value. The Patton Inc. account may not be recovered fully. However, the amount of the decrease depends on the amount that can be recovered from Patton. Thereupon, the accounts receivable will first be credited with the cash recovered with the corresponding debit entry in the Cash account.
