A budgeting method that allocates funds to a promotion as a percentage of past or anticipated sales, in terms of either dollars or units sold, is referred to as ________ budgeting.
A. linear forecast
B. objective and task
C. percentage of sales
D. all-you-can-afford
E. competitive parity
Answer: C
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Why is depreciation added to net income in the Operating Activities category of the statement of cash flows when the indirect method is used?
a. Depreciation expense is a negative amount in the Investing Activities section and therefore is a positive amount in the Operating Activities section. b. Depreciation provides cash and therefore must be added to net income. c. Depreciation was deducted in arriving at net income on the accrual basis of accounting; however, it did not require the use of cash. d. Depreciation reduced the book value of plant assets and, therefore, must be reported as an investing activity.
Section 307 of the Sarbanes-Oxley Act requires:
A. corporate lawyers to report concerns of wrongdoing if not addressed. B. corporates to disclose codes of ethics for senior financial officers. C. disclosure of audit committee financial expert. D. management assessment of internal controls.
On April 1, 2015, due to obsolescence resulting from a new technology, a company discarded a computer that cost $5,000, had a useful life of 4 years, and a salvage value of $400. Based on straight-line depreciation, the accumulated depreciation as of December 31, 2014 was $3,450. a. Prepare the journal entry to record depreciation up to the date of disposal of the computer.b. Prepare the journal entry to record the disposal of the computer.
What will be an ideal response?
Nationalism may affect marketing strategy planning by determining to whom and how much a firm may sell.
Answer the following statement true (T) or false (F)