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1) What is the difference between two types of line-item budgeting approaches: incremental budgeting and zero-based budgeting? Which of the two approaches is more widely used by governments? Which do you think is more beneficial in developing realistic budgets?
2) "The sole objective of budgeting in a governmental entity is to demonstrate compliance with appropriation legislation." Do you agree or disagree? Explain.
Assume that the company uses variable costing, compute the unit cost for one knife set? Assuming that the company uses absorption costing, compute the unit cost for one knife set.
Define planning, organizing, and controlling and then explain why the phases of planning, organizing, and controlling are referred to as a continuous cycle?
Oddessy consulting has the following for year ended 12-31-09 before adjustments. Oddessy uses the net credit sales method of estimating bad debt expense. The journal entry for estimating bad debt expense at year end is:
What is the purpose of GAAP and management accounting? There is a very important distinction that we need to keep in mind when discussing accounting because... they are not the same
Prepare journal entries for investments using the fair value and the equity method. How does it relate to the practice of accounting and its uses in business?
Questions based on partnership. a)Write definition of partnership? b) Name and discuss the characteristics of a partnership c) Advantages of a partnership as a form of business
Determine the predetermined overhead rate. Compute the total cost of the two ending inventories. Compute cost of goods sold for the year (assume no beginning inventories and no underapplied or overapplied overhead).
What are reversing entries and why are they required? What would happen if reversing entries were not made? What transactions might require reversing entries? What transactions might not require reversing entries?
In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales. Prepare the entries to record the sales transactions and related taxes for (a) Grainger Company and (b) Darby Company.
On May 10, 2007, Wiley, Inc remitted $91,450 to the state tax division for April 2007 sales. Calculate the amount of Wiley's April 2007 sales subject to sales tax, and, record the journal entry that would be made when the tax is paid:
Answer the following questions based on Scottsdale, AZ CAFR year ending June 30, 2012.
Corporate Law Case Studies, case for Designco Pty ltd designs, manufactures and distributes craft kits for children, case for Andrew and Belinda are the only shareholders and directors of Sailors Pty Ltd
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