List the budgets that are affected by the budgeted number of units to be produced.
What will be an ideal response?
1. Direct materials budget
2. Direct labor budget
3. Manufacturing overhead budget
4. Cost of goods sold budget
5. Cash budget
6. Budgeted balance sheet
7. Budgeted income statement
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The adjustment necessary to convert cash-basis payments for other operating costs to accrual-basis operating expenses requires the addition of ending prepaid expenses to the beginning prepaid expenses, subtracting the beginning accrued expenses from this amount, and finally adding the ending accrued expenses
Indicate whether the statement is true or false
Which of the following is not good advice for writing effective goodwill messages?
A) Be direct: state the main idea in the first sentence or two. B) Be enthusiastic: use strong words to demonstrate your sincerity. C) Be prompt: send a goodwill message while the reason is still fresh in the reader's mind. D) Be specific: mention a specific incident or anecdote. E) Be brief: use a short note for most circumstances.
Working capital would NOT be used to pay for
A. what it costs to store inventory. B. what a firm owes suppliers. C. advertising expenses. D. the cost of new facilities. E. employee salaries.
A dollar received in the future is worth more than a dollar received today
Indicate whether this statement is true or false.