Ans: d) The static budget is prepared for a single level of activity, while a flexible budget is adjusted for different activity levels.
What is the primary difference between a static budget and a flexible budget?
a) The static budget is prepared only for units produced, while a flexible budget reflects the number of units sold.
b) The static budget contains only fixed costs, while the flexible budget contains only variable costs.
c) The static budget is constructed using input from only upper level management, while a flexible budget obtains input from all levels of management.
d) The static budget is prepared for a single level of activity, while a flexible budget is adjusted for different activity levels.
Business
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You must decline an employee's request to telecommute three days per week. Which of the following statements best explains why this bad news is necessary?
A) Our current company policy does not allow telecommuting. B) Unfortunately, we regret that we are unable to afford the expenses associated with telecommuting. C) Your daily presence in the office is important to ensure regular customer contact. D) Your work standards cannot be relied on unless we are able to observe you at your workstation.
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Use the following account balances from the adjusted trial balance columns of Goody Chocolate's worksheet to answer below question. AccountDebit BalanceCredit Balance Cash 10,000 Merchandise Inventory 4,000 Accounts Payable 2,200 A. Goody, Drawing 1,000 A. Goody, Capital 6,000 Sales 24,000 Sales Discounts 200 Purchases 12,000 Salaries Expense 7,500 Income Summary 1,500 4,000 Using the adjusted trial balance above, select the correct closing entry that Goody Chocolate would make to close the expense accounts (and cost of goods sold accounts with debit balances) at the end of the accounting period.
A.
| Income Summary | 2,500 | |||
| A. Goody, Capital | 2,500 | |||
B.
| Income Summary | 19,700 | |||
| Sales Discounts | 200 | |||
| Purchases | 12,000 | |||
| Salaries Expense | 7,500 | |||
C.
| Purchases | 12,000 | |||
| Salaries Expense | 7,500 | |||
| Income Summary | 19,500 | |||
D.
| Income Summary | 19,700 | |||
| Expense Accounts | 19,700 | |||
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A public relations audit is used to assess an organization's image among its publics or to evaluate the effect of a specific public relations program.
Answer the following statement true (T) or false (F)
Business
Dawne supervises six employees who have all recently joined the organization within the past three months. Dawne is feeling overworked because she believes her ‘subordinates do not have the necessary skills and knowledge.’ Which argument is the strongest rationale to justify that she should indeed delegate more responsibility?
a. The leader’s job is to get followers prepared to take on new tasks. b. The leader’s responsibility is to train followers and prepare them for new challenges. c. Encouraging experimentation and tolerating mistakes are essential to learning and development. d. Doing busy work is not an appropriate use of a leader’s time.
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