Which of the following is true about functional planning?
A) It is conducted by the various functional areas of a firm.
B) It is also called hierarchical management.
C) It encompasses a longer time span than strategic planning does.
D) It covers a shorter time span than operational planning does.
E) It is the same as strategic planning.
A
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a. DatiCon b. Analyst's Notebook c. CaseMap d. Ringtail
For the following situation, state whether it represents a strength or weakness in internal control and give the reason for your answer. Baker Auto Supply purchases merchandise inventory from A & B Company. The accountant places the order, verifies receipt of the merchandise, and records the transaction in the general journal.
What will be an ideal response?
Video résumés are a good way to show more of your personality
Indicate whether the statement is true or false
After a trip to Bordeaux France you are considering opening a restaurant based on Restaurant L'Entrecote. You will offer a fixed menu of salad, steak and French fries
Your innovation is that you will use a bordelaise (red wine) sauce instead of a tarragon butter sauce. You plan to run the restaurant for two years and then retire. Start-up costs, to be incurred immediately, are $500,000. Start-up costs include kitchen equipment, kitchen supplies, renovations, furniture, fixtures, and the point-of-sales system. Assume that all of those assets are classified as 5-year property. The assets can be sold for $150,000 after two years. You expect 100 diners per night. The restaurant will be open for 300 nights per year. The average diner orders food with a menu price of $35 and beverages with a menu price of $15. Food costs are 34% of the menu price and beverage costs are 50% of the menu price. The nightly wages are $2,160 (for the chef, 5 kitchen staff, a bartender, the Maitre d' and 10 wait staff). Municipal tax, rent, and utilities, are $41,400 per annum. Assume that all revenues and operating expenses are received (paid) at the end of each year. The small business tax rate is 20%. The cost of capital is 10%. When the restaurant opens you will have to invest in an inventory of wine, beer and liquor costing $50,000. What is the NPV for the proposed acquisition if the cost of capital is 12%? MACRS Depreciation Rates Year 3-Year 5-Year 1 33.33% 20.00% 2 44.45% 32.00% A) $102,880 B) $(9,586 ) C) $(7,812 ) D) $432,880 E) $128,600