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When Lydia started her vending machine business, she instituted flexible budgeting for the first few months of operations. Her first monthly budget numbers were these:
Cost of goods sold 200 of sales
Advertising l5% of sales
Salaries $4,000
Delivery expense 2% of sales
Rent $1,000
Insurance $200
Supplies 5% of sales
Telephone $150
Compute and list the budget figures for September, when sales were $50,000.
COMMITTEE OF INSPECTION Appointment : A committee of inspection may be appointed by the creditors at their first or any subsequent meeting to supervise the trustee.
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Deferred taxation is caused by timing differences that arise when a transaction is recognized differently for accounting and tax purposes; for i.e, capital expenditure, that invol
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