The usual starting point when developing a sales forecast is:
a. the production budget.
b. the cash budget.
c. competitor's budget information.
d. last year's level of sales.
d
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Hebert & Co CPA's anticipates that partners will bill 1,00 . professional hours, managers will bill 7,500 professional hours and staff accountants will bill 25,00 . professional hours. Billing rates are $250, $150 and $75 for partners, managers and staff accountants, respectively. What is Hebert & Co's budgeted revenue?
a. $5,462,500 b. $3,250,000 c. $5,175,000 d. $3,750,000
The following are steps involved in making short-term decisions: I Recognize and define the problem II Assess qualitative factors III Identify costs and benefits associated with each alternative IV Identify alternatives V Total the relevant costs and benefits for each benefits Which of the following is the correct order to make such a decision?
a. I, II, III, IV, V b. II, V, III, IV, III c. I, IV, III, V, II d. II, V, III, IV, I e. V, III, II, IV, I
Accounting for long-term investments in equity securities with controlling influence uses the:
A. Consolidation method. B. Trading method. C. Investor method. D. Investment method. E. Controlling method.
Jones contracts to buy a computer from Martin for $1500 . The contract calls for Martin to service the computer quarterly for the first year and to tutor Jones on how to use the software. Is this contract covered by the UCC or common law?