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1. How can a flexible budget help managers control costs?
A flexible budget can help managers control costs by showing favorable and unfavorable variances within the planning of the budget.
2. What is an unfavorable variance? How does it relate to overall profit?
Unfavorable variances generally occur when actual cost exceeds standard cost. This often alerts managers that profits will be less than expected.
Assume your grandparents have just given you $20,000 on the condition that you invest the money in the stock market. As you contemplate making your investment choices, what account
Assume that you are the president of Gaslight company. At the end of the year (December 31, 2011 of operation.
what is the explanation?
State the term Reliability- Accounting Information Accounting must be free from significant error or bias. It must be capable of being relied upon by managers to represent
State the Benefits of accounting information Benefits of accounting information ultimately decline. Cost of providing information, though, will rise with every additional piec
#what are the limitations or disadvantages of accounting concept?
received 16,000 contribution in exchange for common stock
Entity theory method: Golden Bells Inc. is a foreign subsidiary of Northern Bells Ltd., a Canadian company. Northern Bells had purchased 90% of the outstanding shares of Gold
Van Aalst Company's comparative balance sheet and income statement for last year appear below: Comparative Balance Sheet
PROTECTIVE TRUSTS The income of property may be settled on such terms as to restrict its availability to creditors of the beneficiary in the following ways: (a) Determinable
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