To prevent a cash crunch, a company must accurately forecast its actual cash flow.
Answer the following statement true (T) or false (F)
True
To prevent a cash crunch, it is important for a new entrepreneurial business to carefully, thoughtfully, and accurately forecast its real cash flow.
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The budget director of Mandy's Kitchen Shop has prepared the following sales budget. The company had $50,000 of accounts receivable at January 1. The company normally collects 100 percent of its accounts receivable in the month following the sale.Required:(a) Complete the schedule of cash receipts by filling in the missing amounts. What are the total budgeted cash receipts for the first quarter.(b) Determine the amount of accounts receivable that Mandy's should report on the first quarter pro forma balance sheet.
What will be an ideal response?
Which of the following is not an important factor in determining the appropriate cost driver to use in allocating a cost?
A. The ability of the cost driver to allocate indirect costs to cost objects B. The availability of information about the cost and cost driver C. A cause-and-effect relationship between the cost and the cost driver D. All of the answers are important factors in determining the appropriate cost driver to use in allocating a cost
Global and regional advertising campaigns are a way to ___________ cost.
A. reduce B. dedicate C. amortize D. allocate
Which of the following is true of competency-based plans?
A. These plans are free of biases and judgments. B. These plans eliminate the need to control costs. C. Managers who use these plans focus on placing the right people in the right job. D. These plans maximize flexibility. E. Results of these plans are always reliable and valid.