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Anon25 [30]
2 years ago
13

List and explain ten factors to consider in preparing family income​

Business
1 answer:
aniked [119]2 years ago
8 0

<em>Answer:</em>

<em>1. Availability of Money:</em>

<em>The expenditure of a family depends upon the availability of money or total income of the family. It can afford to spend under various needs. In lower income group, families expenditure is more on food. Higher income group families spend more on recreation, education and luxuries etc.</em>

<em>2. The size and the composition of the family:</em>

<em>Expenditure depends upon the size and composition of the family. The size of the family means the number of adults and children. The more the mouths to eat the expenditure is more on food, clothing and shelter. With the growth of children, more will be spent on education and clothing. More will be spent towards transportation when the members go out of the house for work or study.</em>

<em>Composition of the family means the number of adults and children in the family. It also includes the number of males, females and old persons. For old persons, extra expenditure will be incurred towards health and medical expenses.</em>

<em>3. Stages of family life cycle:</em>

<em>Family life cycle plays an important role in spending money. At the beginning stage, most part of the family income is spent towards the establishment expenditure as a newly married couple starts their family life. In the expanding stage families need money for the children, their food, dress, education etc. Some families in the expanding stage spend more on purchasing durable household goods, furniture etc. In the contracting stage major expenditure is on wedding celebration of their children. During this stage, the family income is gradually reduced. So the expenditure should be cut short.</em>

<em>4. Occupation of the family members:</em>

<em>Sometimes expenditure of the family depends upon the occupation of the family members. In certain jobs, there are special benefits like free quarters, educational facilities for children, health and medical allowance, travelling allowance etc.</em>

<em>5. The needs and objectives of the family:</em>

<em>Expenditure will be done according to the needs and objectives of the family. For example, a family where young children are there, more will be spent for nutritious foods. Old people require health and medical expenses. Working women spend money for the servants as they do not find time to do the household work.</em>

<em>6. Resources:</em>

<em>Both human and material resources can make significant changes in the pattern of expenditure of a family. The abilities, skill, knowledge, interest, attitude and habits of the members of the family can be utilized for various purposes as supplementary income.</em>

<em>7. Locality of the family:</em>

<em>In rural areas more will be spent on food. But in urban areas the expenditure is more on education, recreation, transportation, accommodation etc.</em>

<em>8. Socio-economic status of the family:</em>

<em>The socio-economic status of the family is determined by its income, education level and occupation of the members. The higher the socio-economic status the expenditure will be more on interior decoration, higher education, club membership, accommodation, recreation etc. The total expenditure depends on the standard of living the family maintains.</em>

<em>9. Social and religious traditions:</em>

<em>Some families accept old and traditional values. So they spend more on marriages and religious festival.</em>

<em>10. Personal choice:</em>

<em>Expenditure depends upon the personal choice. For example, one person may have a liking for expensive perfumes and jewellery while another may have simple tastes. Expenditure is also affected by the measures taken in the family to make provision for the future like house building, higher education of children etc. The home-maker will be able to manage with her income by cutting out unnecessary and extravagant expenditure. “One must cut one’s coat according to his cloth.”</em>

<em />

<em>This saying is rightly proved in home management. Balancing of income and expenditure is the best way of money management. Whatever the income may be, the efficient management of money is a requisite for a happy, successful and peaceful family life.</em>

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Western Electric has 31,500 shares of common stock outstanding at a price per share of $78 and a rate of return of 13.05 percent
S_A_V [24]

Answer:

WACC = 11.13%

Explanation:

total market value common stocks = 31,500 x $78 = $2,457,000

total market value of preferred stock = 7,250 x $94.50 = $685,125

total market value of debt = $401,000 x 1.105 = $443,105

total = $3,575,230

Rcs = 13.05%

Rps = $7.70 / $94.50 = 8.15%

Rd = 8.05%

WACC = ($2,457,000/$3,575,230 x 13.05%) + ($685,125/$3,575,230 x 8.15%) + ($443,105/$3,575,230 x 8.05% x 60%) = 8.968% + 1.562% + 0.6% = 11.13%

8 0
3 years ago
Activities of a central motor pool that provides and services vehicles for the use of municipal employees on official business s
Neko [114]

Answer:

c. Internal Service Fund

Explanation:

Internal Service Fund -

It refers to the sum of amount required to track the motion of any goods and services from one department to another , is referred to as internal service fund .

The amount spend on the internal service fund is used to determine the complete cost of providing the services and goods .

For example , maintenance is an example of the internal service fund .

Hence , from the given information of the question ,

The correct answer is c. Internal Service Fund .

4 0
3 years ago
Which of the following reasons can make a diversification strategy an unwise course of action for a company to pursue? Group of
Alex777 [14]

Answer:

Diversification for pooling risks

Explanation:

When a company wants to diversify it goes into various products in order to reach a larger market. This is the opposite of specialisation where the company focuses on one market or product.

When a company wants to diversify it will not be a good idea to do it because they want to pool risk.

Pooling of risk involves centralisation of process so that risk due to variability will be reduced.

Diversifying will increase risk due to variability.

8 0
3 years ago
Calculate the percentage rate management fees on the following: $575 adjusted per-unit fee, 50 total units, $600,000 annual gros
arlik [135]

Answer:

19.1% management rate.

Explanation:

Adjusted fee charge per unit = 575

Adjusted fee charge for total unit of product = 575 * 50 = $28750

Net after feel charge on goods = 600000 - 28750 = $571250

15% vacancy and loss rate = .15 * 571250 = $85687.5

Total management fee per year = $114437.5

Percentage rate management fee = (114437.5/600000) *100

= 19.1 %

8 0
3 years ago
The chefs at Lorifusion, a continental restaurant, are given the freedom to try out new ways of presenting their dishes. This he
REY [17]

Answer:

The answer is: A) A creative work environment

Explanation:

Creative working environments usually enable employees to spend time creating different products, being unpredictable, testing different ideas, making mistakes, and innovating.

It's not easy for management to create such working environments, specially when innovation is not linear, is unpredictable and may be inefficient sometimes. But at the long run, innovative companies will tend to dominate their markets.

7 0
3 years ago
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