A fiscal year refers to an organization's accounting period that spans twelve consecutive months or 52 weeks.
Answer the following statement true (T) or false (F)
True
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____ can accept and return none, one, or many parameters.
A. Triggers B. Procedures C. Packages D. Programs
The Equal Pay Act requires equal pay for equal work for:
a. Employees at the same level of the organization b. Men and women c. All different races d. All of the above
Target cost is calculated by deducting desired gross profit from target sales price
Indicate whether the statement is true or false
McIntyre, Inc has prepared its third quarter budget and provided the following data
Jul Aug Sep Cash collections $50,000 $39,900 $46,000 Cash payments: Purchases of direct materials 31,000 22,000 17,500 Operating expenses 12,200 8,700 11,300 Capital expenditures 13,600 24,300 0 The cash balance on June 30 is projected to be $4,500. The company has to maintain a minimum cash balance of $5,000 and is authorized to borrow at the end of each month to make up any shortfalls. It may borrow in increments of $5,000 and has to pay interest every month at an annual rate of 5%. All financing transactions are assumed to take place at the end of the month. The loan balance should be repaid in increments of $5,000 whenever there is surplus cash. Calculate the final projected cash balance at the end of August taking into consideration all the financing transactions. A) $7,558 B) $(7,442 ) C) $47,600 D) $15,000