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Characteristics of budgets include: (Check all that apply.) Multiple select question. a focus on the past. typically span a mont

const2013 [10]

Answer:

I. typically span a month, quarter or one year.

II. expressed in monetary terms.

III. formal statement of a company's plans.

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.

Basically, budgets are usually compiled, analyzed and re-evaluated on periodic basis such as monthly, quarterly or annually.

Some of the important characteristics of budgets include:

I. It typically span a month, quarter or one year.

II. It's expressed in monetary terms.

III. It's a formal statement of a company's plans.

Furthermore, some of the benefits of having a budget are; it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.

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2 years ago

Rottino Company purchased a new machine on October 1, 2020, at a cost of $150,000. The company estimated that the machine will h

Amanda [17]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Purchasing cost= $150,000.

The company estimated that the machine will have a salvage value of $12,000. The machine is expected to be used for 10,000 working hours during its 5-year life.

1) Straight-line:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (150,000 - 12,000)/5= 27,600

2020:

Annual depreciation= (27,600/365)*92 days= $6,956.71

2) Units of activity:

Annual depreciation= [(original cost - salvage value)/useful life of production in units]*units produced

Annual depreciation= [(150,000 - 12,000)/10,000]*1.700= $23,460

3) Double-declining balance:

Annual depreciation= 2*[(book value)/estimated life (years)]

Annual depreciation= 2*27,600= 55,200

2020:

Annual depreciation= 55,200/365*92= 13,913.42

2021:

Annual depreciation= [138,000 - 13,913.42)/5]*2= 49,634.63

5 0

2 years ago

Aram has plans on going to Georgia Tech to study Biomedical Engineering. Which of the following is he MOST LIKELY attempting to

lesantik [10]

Answer:

The answer is D. a higher of standard of living.

Explanation:

4 0

2 years ago

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Suppose the economy is experiencing an output gap of –3%. a. Select each response that indicates how monetary policy or fiscal p

igor_vitrenko [27]

Answer:

Suppose the economy is experiencing an output gap of –3%

a. Monetary policy or fiscal policy can be used to raise actual output toward potential output when:

The government can increase its spending or reduce taxes, which will shift the IS curve to the right and increase GDP.

The Fed can reduce the interest rate, which will shift the MP curve down and increase GDP.

b. The policies identified in part a,

can be used together to raise actual output toward potential output.

Explanation:

Investment-Savings (IS) curve shows all the levels of interest rates and output (GDP) at which an economy's total desired investment (I) equals its total desired saving (S). This equilibrium can be achieved at a level of interest rate that maximizes output. The IS curve slopes downward, and to the right because at a lower interest rate, investment is higher, which produces more total output (GDP) for the economy.

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2 years ago

Which function(s) of money informs the consumer what currency to use to obtain a good or service?

inna [77]

The third function explains that money is a medium of exchange. It means that it is better to use the money used in the country itself to gain better service because it would provide better protection. Costumers would be more satisfied if the business would accept the money they have and it would be safer and mutually good for both if the customer would transact using the currency country's currency.

Source: https://www.stlouisfed.org/education/economic-lowdown-podcast-series/episode-9-functions-of-money

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2 years ago

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