Answer:
The benchmarking function of budgeting system involves the evaluation of performance of managers.
The correct answer is C
Explanation:
The integration of inputs from different business inputs and function is done at the planning stage of budgeting. It does not involve benchmarking.
Budgeting requires requires close cooperation between accountants and operational personnel. This is referred to as active participation in budgeting. It helps to overcome behavioural challenges of budgeting.
Budget figures are used to evaluate the performance of managers. This is a benchmarking function of budgeting because it involves the comparison of performance of managers with established criteria so as to determine their level of success.
The budget outlines a specific course of action for the coming year. This indicates that a budget is a financial plan that outlines future courses of action. This does not require benchmarking.
Answer: decreases
Explanation: The following practice is done by the central bank in the situation of inflation when there is an excess supply of money in the economy.
The central bank tries to decrease the funds by selling the govt bonds to the banks. This results in decrease in funds from banks as they have to buy such bonds from their respective funds.
Answer:
$37,100
Explanation:
The computation of the adjustment made to Allowance for Doubtful Accounts is shown below:
= Ending account receivable balance × uncollectible percentage - credit balance of Allowance for Doubtful Accounts + written off amount
= $235,000 × 10% - $22,300 + $35,900
= $23,500 - $22,300 + $35,900
= $37,100
We simply applied the above formula so that the adjustment amount could arrive
