Answer:
c. Sales budget, budgeted income statement, budgeted balance sheet
Explanation:
First, we calculate the sales for the period. It would also calculatethe cash proceeds from sales, which will be useful for the balance sheet.
With that, we can plug sales revenue into the income statement and calcualte the net income.
And with the income statement, we can solve for retained earnings and build up the balance sheet. Among other data
Doing it in any other order, we are going to leave blanks and need to do the next one to fill them. In the proposed orde,r we do not need information from the subsequent budget to complete the previous one, which is good.
When an company makes much profit the business will florish and prosper.
Answer:
D. Its purpose is to relate the income tax expense to the items which affect the amount of tax.
Answer:
option (b) 9.5%
Explanation:
Data provided in the question:
Loan Amount = $2,000,000
Annual interest rate = 9%
Required compensating balance = $100,000
Now,
Effective interest rate(EIR)
= (loan × Annual interest on loan) ÷ (Loan - Required compensating balance)
= ($2,000,000 × 9% ) ÷ ( $2,000,000 - $100,000 )
= ($2,000,000 × 0.09 ) ÷ ( $1,900,000 )
= 0.0947 ≈ 0.095
or
= 0.095 × 100%
= 9.5%
Hence,
the answer is option (b) 9.5%
<span>In the past ten years, the largest amount of growth has been seen in the expenditure on services. For example, in the period 2014-5, that expenditure grew by 3.4%. Comparatively, the other components of household expenditure showed relatively modest differential gains during the last 10-year period.</span>
