The joint federal and state
health insurance program for low-income persons in the United States is called
MEDICAID. Medicaid, helps with medical costs for those people with limited
resources and income. While Medicaid is jointly funded by both federal and
state governments, it is managed by the state governments.
Answer:
c. Debit: Discount on notes payable, $41,884.
Explanation:
The journal entry is shown below:
Equipment $883,116
Discount on Notes payable $41,884 ($740,000 - $698,116)
To Notes payable $740,000
To Cash $185,000
(Being the amount paid in cash and note payable is recorded)
Working note
= Note payable amount × PVF factor at 6% for one year
= $740,000 × 0.94340
= $698,116
For recording this we debited the equipment as it increased the assets and discount is always debited while the note payable and cash is credited as it increased the liabilities and reduced the assets
Answer:
1. B
2. A
3. D
4. C
Explanation:
1. Activity variance
B) the difference between a revenue or cost item in the flexible budget and the same item in the planning budget.
The activity variance is as a result of difference between the actual level of activity in the flexible budget to the assumed level of activity in the planning budget.
2. Planning budget
A) a budget created at the beginning of the budgeting period that is valid only for the planned level of activity.
Planning budget is a process of evaluating earnings and expenses and project their monetary intakes and outtakes for the future made by an individual or company.
3. Flexible Budget
D) a report showing estimates of what revenues and costs should have been, given the actual level of activity for the period.
Flexible budget adjusts with changes in volume and activity
4. Spending variance
C) the difference between the actual amount of the cost and how much the cost should have been, given the actual level of activity
This is unfavorable if the actual cost is greater than what the cost should have been and favorable if the actual cost is less than what the cost should have been.
<span>Managers should conduct a 360 evaluation of staff performance. This includes gathering feedback from suppliers, customers, and other employees. Customer surveys, with an incentive, are an effective way to measure success and gather target feedback. A key performance indicator for this type of business is customer retention.</span>
Answer:
true is the answer according to me
