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1-Explain the relationship between the management functions of planning and controlling costs.
2-Briefly explain at least 3 ways in which a business may expect to benefit from preparing a formal budget.
3-Critize the following quotation: "At our company, bedgeted revenue is set so high and budgeted expenses so low that no department can ever meet the budget. This way, department managers can never relax; they are motivated to keep working harder no matter how well they are already doing"
4-Identify at least 5 budget or schedules that are often included in the master budget of a manufacturing business.
5-List in logical sequence the major steps in the preparation of a master budget.
6-Why is the preparation of a sales forecast one of the earliest steps in preparing a master budget?
7-What are responsibility budges? What responsibility centers would serve as the basis for preparing resonsibility sales budgets in a large retail store such as Sears or Nordstorm?
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The dividend growth rate is expected to be constant at 2.50% for 2 years, after which dividends are expected to grow at a rate of 8.00% forever. Wei's required return (rs) is 12.00%. What is the intrinsic value of Wei's stock?
Briefly describe the key requirements included in professional auditing standards regarding the preparation and retention of audit workpapers. Which party "owns" audit workpapers: the client or the audit firm?
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