A project budget report is showing our project as spending $35,000 against a budgeted amount of $40,000. Which of the following is true?
A. We are spending less than we should for the project
B. We have more money to put into budget reserves
C. We are doing a good job managing the project
D. We should check to see if all the bills have been paid
E. We can't be sure how the project is going
Answer: E
You might also like to view...
Agency problems exist in which forms of business ownership?
A. Sole proprietorship B. S corporation C. Partnership D. Corporation
You have started working for a company that manufactures lawn mowers. These mowers carry a warranty that will replace defective parts for one year. The corporate president feels that an expense should be recorded when the defective parts are replaced. Explain the proper accounting treatment to the corporate president.
What will be an ideal response?
From a group of three finalists for a privately endowed scholarship, two individuals are to be selected for the first and second places. Determine the number of possible selections.
What will be an ideal response?
Given the options below, identify the correct accounting equation formula.
A. Liabilities = Assets + Owner's Equity. B. Assets + Liabilities = Owner's Equity. C. Assets + Owner's Equity = Liabilities. D. Assets = Liabilities + Owner's Equity.