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TRUE/FALSE (CHAPTER 15) 1. Zero-base budgeting requires the periodic review of all programs, not just new ones. 2. It is difficult for accountants to have a role beyond auditing the financial statements of governments and not-for-profits. 3. "Outputs" is a term used to indicate the quantity or units of service provided by an activity. 4. One of the principal disadvantages of zero-base budgeting is that it requires budgetary units to provide information that may never be used in the decision process. 5. Many of the benefits of program budgeting may be ascribed to the organizational self-examination that it requires at the outset. 6. Most accounting organizations support the notion that performance measures should be included in general-purpose annual financial reports. 7. The Government Performance and Results Act of 1993 requires federal agencies to focus on explicit near-term objectives and performance measures. 8. The GASB's SEA reporting proposals focus on measures of efforts, measures of accomplishments, and measures that relate efforts to accomplishments. 9. Rather than cash inflows, the potential benefits of many capital assets can be expressed as cash savings to governments and not-for-profits. 10. It is widely accepted that capital assets should be financed with resources on hand to achieve interperiod equity. 11. Program outcomes frequently are more difficult to measure than inputs and outputs. 12. An important part of capital budgeting is to compare alternative means of achieving the same objective. 13. Benefit-cost analysis has fallen from favor among management experts because it usurps the role of informed judgment. 14. A disadvantage of evaluating capital expenditures separately from operating expenditures is that it is easy to overlook operating costs associated with newly acquired assets. 15. An organization's mission and goals derive from its operational objectives.
oil products company purchases an oil tanker depot on january 1 2014 at a cost of 2400000. oil products expects to
Please include thorough explanation and thorough calculations for each answer chosen. The differential approach is often considered superior to the total project approach to capital budgeting:because it can more easily accommodate multiple investmen..
Heath Company has beginning inventory of 21,000 units and expected sales of 48,000 units. if the desired ending inventory is 15,500 units, how many units should be produced?
No Income Gainedfrom Revaluations- You are required to work as a research team intending to present your findings in a suitable written format
Hobbes gave his son ABC stock valued at $100,000 that he purchased for $60,000 and his daughter EFG stock valued at $100,000 that he purchased for $250,000. Hobbes paid $30,000 in gift taxes on each of these gifts. What are the son's and daughter'..
respond to the following ethical issue concerning the reclassification of receivables in your initial post moss exports
Why is the identification of favorable and unfavorable variances so important to a company? How can the identification of the variances help management control costs?
Record construction costs of 1800000 on construction in process to date. Record progress billings of $ 1000000. Record the recognition of profit that can be recognized to date, on a percentage of completion basis.
If the company decides to use 40% debt what is the new cost of equity? Note, the company's marginal tax rate is 35%. (Hint: calculate the levered beta and then re-calculate the cost of equity with that.)
Sampras Company purchased a machine for $30 000 on 1 January 2007 with an estimated life of 5 years and a residual value of zero. The straight-line method of depreciation is used. What is the carrying value of the machine on the 31 December 2008 i..
George purchases used office furniture (seven-year class property) at a cost of $50,000 on April 20, 2009. Determine George's cost recovery deduction for 2009 for alternative minimum tax purposes, assuming George does not elect § 179 and the maxim..
the supplies account has a balance of 1200 at the beginning of the year and was debited during the year for 2300
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