Which of the following is not a guideline for budget preparation?
A) Revise budget to include planning decisions
B) Know the sources of budget information
C) Limit the use of a budget to one user group
D) Establish the format of the budget
C
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Under process costing, costs assigned to goods sold are transferred to the Cost of Goods Sold account from the ________. A perpetual inventory system is used.
A) Finished Goods Inventory account B) Work-in-Process Inventory account C) Raw Materials Inventory account D) Sales Revenue account
Describe requests for information in the context of routine requests
Perform a horizontal analysis for the entry "Gross Sales" shown on the income statement portion below. (Round to the nearest tenth
Bourland Corporation is considering a capital budgeting project that would require investing $80,000 in equipment with an expected life of 4 years and zero salvage value. Annual incremental sales would be $250,000 and annual incremental cash operating expenses would be $180,000. The project would also require a one-time renovation cost of $40,000 in year 3. The company's income tax rate is 30% and its after-tax discount rate is 8%. The company uses straight-line depreciation. Assume cash flows occur at the end of the year except for the initial investments. The company takes income taxes into account in its capital budgeting. The net present value of the entire project is closest to:See separate Exhibit 13B-1, to determine the appropriate discount factor(s) using the tables provided.
A. $120,080 B. $112,000 C. $159,928 D. $79,928