The three examples of opportunity costs are :1. An excellent illustration of opportunity cost is the decision to travel to a specific location by taking public transportation instead of driving.
2 example. A business owner wants to introduce a new product. To construct and market it, a $1,000 initial investment is required. The potential value of that money being used elsewhere or saved for the future is the opportunity cost.
3 example. Wheat is planted by a farmer; Planting a different crop or making a different use of the resources (land and farm equipment) is an example of the opportunity cost.
What aspects of opportunity cost are involved?Students will examine three aspects of production opportunity costs: capital, labor, and land. In a scenario, students will then identify these factors and explain why opportunity costs must be calculated.
How significant is opportunity cost?When making decisions, the idea of opportunity cost is used to help people and businesses make better choices, primarily by considering the alternatives. The cost and benefit of each option are included in opportunity costs, which can sometimes be difficult to estimate. Opportunity costs are based on the future.
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Deborah must deny a request made by one of her employees. The most effective statement in a bad-news message denying this request would be
The line "Letters establish a record of what happened more convincingly than other communication methods" would be the most impactful in a bad-news message denying this request.
Which of the following suggestions is the best one to use when giving the reasons behind the terrible news?Which of the following suggestions is the best one to use when giving the reasons behind the terrible news? To emphasize your point, use phrases like "impossible," "regret," and "sadly." Cite reader or other advantages if they are tenable.
What is the statement that best describes making complaints online?Complainers may appear unreasonable in social media posts. Business letters continue to be an effective tool for promoting goods and services, increasing traffic to websites and stores, and improving relationships with clients.
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Differential costs, opportunity costs and sunk costs are all cost classifications used in ______. Multiple choice question. account analysis predicting cost behavior decision making financial statements
The correct answer is C. Differential costs; opportunity costs and sunk costs are all cost classifications used in decision-making.
In economics and commercial enterprise decision-making, a sunk price (additionally known as a retrospective fee) is a fee that has already been incurred and cannot be recovered. Sunk expenses are contrasted with prospective prices, which are future expenses that may be averted if action is taken.
In other phrases, a sunk price is a sum paid beyond this is not applicable to selections about the future. even though economists argue that sunk costs are not applicable to future rational selection-making, humans in ordinary life frequently take preceding expenses in conditions, together with repairing a vehicle or residence, into their future decisions regarding the one’s residences.
A sunk price, from time to time called a retrospective price, refers to an investment already incurred that cannot be recovered. Examples of sunk expenses in business encompass advertising, research, new software installation or gadget, salaries, and benefits, or facilities costs.
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Kurtis is expecting a promotion which, hopefully, comes with a raise. he would like his raise to help him correct a high debt-to-income (dti) ratio of 43%. his current annual salary is $53,000. how much of a raise would kurtis need applied to his annual salary to get his dti ratio down to a more reasonable 36%?
a. $4,437
b. $8,627
c. $10,305
d. $63,305
please select the best answer from the choices provided a b c d
Ge wants to reduce his debts with his raise, he needs to get a raise of $4,437
What is debts?Debt is an amount of money owed by an individual or organization to another individual or organization. Generally, debt is incurred when a person or entity borrows money from another person or entity.
To calculate the amount of raise Kurtis needs, we need to calculate his total debts and total income. His current annual salary is $53,000, so his total income is $53,000. To calculate his total debts, we can use the equation Total debts = DTI x Total Income. Since his current DTI is 43%, his total debts are $22,790 (43% x $53,000).
To get his DTI down to 36%, his total debts should be $19,080 (36% x $53,000). Therefore, he needs to reduce his debts by $3,710 ($22,790 - $19,080). Since he wants to reduce his debts with his raise, he needs to get a raise of $4,437 ($3,710 / 0.85, where 0.85 is the salary tax rate).
Therefore, the answer is A. $4,437.
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An economy has 670 people divided among the following groups: 200 have full-time jobs, 40 have one part-time job, 30 have two part-time jobs, 45 would like to work and are looking for jobs, 40 would like to work but are so discouraged they have given up looking, 130 are running their own businesses, 65 are retired, and 120 are small children. A) Calculate the labor force and the labor-force participation rateb) Calculate the number of unemployed and the unemployment ratec) Calculate total employment in two ways: as measured by the household survey and as measured by the establishment survey
The labor force is the sum of those employed and those unemployed. The labor force is therefore 200 + 40 + 30 + 45 = 315 people. The labor-force participation rate is the labor force divided by the total population, which is 315/670 = 46.6%.
What is labor force?The labor force is a term used to describe the pool of people who are employed and actively looking for work. It is a measure of the total available workforce in a given population, and is often used to assess the overall health of an economy.
b) The number of unemployed is the sum of those who would like to work and are looking for jobs, plus those who would like to work but are so discouraged they have given up looking. This is 45 + 40 = 85 people. The unemployment rate is the number of unemployed divided by the labor force, which is 85/315 = 27.0%.
c) Total employment as measured by the household survey is the sum of those employed and those running their own businesses, which is 200 + 130 = 330 people. Total employment as measured by the establishment survey is the sum of those employed in full-time and part-time jobs, which is 200 + 40 + 30 = 270 people.
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What does fixed rate mortgage means?
A home loan option with a fixed interest rate for the duration of the loan is known as a fixed-rate mortgage.
How long is a 30-year fixed mortgage? A home loan option with a fixed interest rate for the duration of the loan is known as a fixed-rate mortgage.In essence, the mortgage's interest rate will not vary throughout the loan's term, and the borrower will continue to make equal monthly payments for interest and principal.In the event that all payments are made on time, a 30-year fixed-rate mortgage will be fully repaid in 30 years.During the entire term of a fixed-rate loan, the interest rate is fixed.A fixed-rate loan's principal benefit is that, in the event that interest rates rise, the borrower is shielded against unexpected and potentially large increases in monthly mortgage payments. Mortgages with fixed rates are simple to comprehend and have few differences across lenders.To learn more about mortgage refer
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Jamara has started a home party business that hosts parties and those attending paint signs. Jamara must pay $500 a year to be a representative for Paint A Sign. In addition, Jamara buys all the materials for the parties, including the metal base, the paints, brushes, stencils, and transfers. Currently, these items all add up to $10 on average. Jamara charges each participant $25 for each sign they make. For Jamara's Paint A Sign business, the $500 is a fixed cost per year. Which of the following is true?
Answers:
a. Jamara will pay the Paint A Sign company $500 regardless of the number of parties she hosts.
b. Jamara will lose money if she has less than 100 participants a year.
c. Jamara's annual fixed costs will be higher than her variable costs regardless of the number of participants.
d. Jamara will have to pay Paint A Sign $500 for every party she hosts.
Answer:
The correct answer is A. Jamara will pay the Paint A Sign company $500 regardless of the number of parties she hosts.
Explanation:
Since Jamara has started a home party business that hosts parties and those attending paint signs, and she must pay $ 500 a year to be a representative for Paint A Sign, and in addition, Jamara buys all the materials for the parties, including the metal base, the paints, brushes, stencils, and transfers, and currently, these items all add up to $ 10 on average, and Jamara charges each participant $ 25 for each sign they make, and for Jamara's Paint A Sign business, the $ 500 is a fixed cost per year, to determine which of the options is true, the following calculations must be performed:
500 = fixed costs
(100 x 25) - 10 x 100 - 500
2500 - 1000 - 500 = 1000
Therefore, since $ 500 is annual fixed costs regardless of the number of parties that are held, Option A is correct.
Universal Containers wants to track Invoice Payments on an Opportunity Related List. Only the Finance Team should see this Related List; however, all Users should be able to view Invoice Payment reports. How should the System Administrator implement this requirement?
O Set the Invoice Payment Org-Wide Sharing Settings to Private.
O Only grant Finance access to the Invoice Payment object.
O Build an Invoice Payment report with a Running User of Finance.
O Create a new Page Layout and Profile for the Finance Team
Option D is correct, It should System Administrator implement this requirement by creating a new Page Layout and Profile for the Finance Team.
International distributor of containers, Universal Containers is expanding quickly. The business manufactures all different types of containers, including small postal containers, special equipment packing, and huge cargo shipping containers. The Salesforce Administrator certificate is intended for those with Salesforce administrator expertise who are always seeking new methods to help their organizations make the most of both existing and emerging features and capabilities. Establishing an Org set up by
Describing the information that may be found in Setup's company information section. List the different UI elements that an administrator can modify.Put each UI feature to use in typical circumstances.Put into practice typical scenarios involving business information.To learn more about invoice payments, click at:
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What is the major problem of economics and why do we have such problem?
The conundrum of limited resources and insatiable wants is the core issue in economics. Additionally, economics has demonstrated that a man's requirements cannot be met. As more of our requirements are met over time, we gradually create greater wants.
The social science of economics deals with the creation, exchange, and consumption of products and services. Economics is the study of how economies work as well as the behavior and interactions of economic actors. The study of microeconomics focuses on what are thought to be the fundamental components of the economy, such as the interactions that result from market and agent activity. Individual agents can represent a variety of clients, including homes, companies, buyers, and sellers. The study of the economy as a coexisting system of production, consumption, saving, and investment is known as macroeconomics. Additionally, it looks at the elements that have an impact on this system, including the use of labor, capital, and natural resources, currency inflation, economic expansion, and public policies .
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A man divided $9,000 among his wife, son, and daughter. The wife received twice as much as the daughter, and the son received $1,000 more than the daughter. How much did each receive
The wife received $4000, the daughter received $2000 and the son received $3000
A man gave his wife, son, and daughter a total of $9,000.
Now that we know, we can see that the son received $1,000 more than the daughter, and the wife received twice as much as the daughter.
We might therefore presume that,
The amount wife received = x
The amount daughter received = x / 2
The amount son received = 1000 + (x / 2)
The equation which can be formulated from the above situation is:
x + (x / 2) + (x / 2) + 1000 = 9000
2x + 1000 = 9000
2x = 9000 - 1000
2x = 8000
∴ x = 4000
On solving the equation now we know that:
Wife = x = $4000
Daughter = x / 2 = 4000 / 2 = $2000
Son = 1000 + (x / 2) = 1000 + 2000 = $3000
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Worker's compensation insurance premiums: Multiple Choice Are the same amount for all employees of a company, regardless of employee task. Are remitted in full at the end of the year to ensure accuracy. Are governed by state laws and vary according to worker job classification. Are mandated by the Fair Labor Standards Act.
Depending on the worker's compensation classification, and are governed by state law.
What does workmen's compensation insurance cover?The Workmen's Compensation policy offers payment for monetary damages to Employees or their dependents in the event of an employee accident or injury at work (including certain occupational diseases) that results in disability or death. Employees who sustain an injury at work are compensated under the policy. This policy also includes coverage for illnesses and fatalities related to the workplace. Employers can also benefit financially from this sort of insurance since it can cover the costs of litigation when workers file claims. Even if they are citizens of another nation, employees of Indian enterprises are covered by the WC Insurance Policy. Only Indian citizens are eligible to use the ESIC Insurance Policy.
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________ leadership model posits that an effective leader makes desirable rewards available, clarifies how employees can achieve objectives, and provides them support in doing so.
The behavioral leadership model posits that an effective leader makes desirable rewards available, clarifies how employees can achieve objectives, and provide them support in doing so.
The classical management theory focuses on the actions of leaders and holds that other leaders are able to imitate these actions. The style hypothesis, as it is commonly referred to, makes a claim. Instead of being innately good leaders, they can be cultivated through teachable behavior.
They have a clear sense of what they want to accomplish and will employ any means necessary to do so. For instance, they could take on a dictatorial attitude in the weeks preceding a crucial deadline and then change to a country club leadership style.
To mend fences with their team. Autocratic, democratic, and laissez-faire are the three categories of leadership styles that Kurt Lewin defined in the corporate world. Of course, each has advantages and disadvantages of its own.
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based on her current balance, how much credit does this cardholder have available to use?
A: 0
B: about 500
C: about 1600
D: 2100
Answer: about $1,600
Explanation:
i just took that test lol
When the makers of Budweiser beer decided to create a line of barbecue sauces, the company was using a _______ strategy. Multiple choice question.
When the makers of Budweiser beer decided to create a line of barbecue sauces, the company was using a brand extension strategy. In a marketing approach .
brand extension or brand stretching, a company that markets a product with a strong brand identity utilizes the same brand name across many product categories. The new item is referred to as a spin-off.Organizations employ this tactic to boost and capitalize on brand equity (definition: the net worth and long-term sustainability just from the renowned name). The creation of Jello pudding pops by Jello-gelatin is an illustration of a brand expansion. It raises brand recognition and boosts revenue from product offers across several categories.
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If a company does not have enough capacity to consistently meet an order by a certain timeline it can:
A company can hire more employees, subcontract with another business in the same industry, or expand operations if it lacks the ability to consistently complete orders by a specific deadline.
What name is given to the price of making, packaging, and delivering one item?The expenses a business has to pay when producing a good or offering a service that brings in money for the business are referred to as production costs. Labor, raw materials, consumable manufacturing supplies, and general overhead are just a few examples of the costs that might be included in production costs.
How quickly is business expanding or generating more money from sales?The revenue growth rate calculates the percentage change in revenue from one month to the next. It is among the most popular and significant startup KPIs.
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How are individuals and economies similar?
Individuals and economies are similar in that they both involve the exchange of goods and services for money. Both individuals and economies must manage their resources and make decisions about how to allocate them in order to maximize their benefit.
What is Individuals and economies?Individuals and economies refer to the collective economic activities of people in a certain region or area. It encompasses the entire economic output of a region or area, including both production and consumption of goods and services. Individuals and economies are interrelated, as the economic activities of individuals can impact the economy as a whole. For example, if an individual purchases a product or service, it helps to stimulate the economy by creating jobs, increasing wages, and increasing the demand for goods and services. This, in turn, helps to increase the overall economic growth of the area. Additionally, the economic activities of individuals can also influence the economic policies of governments and other organizations.
Both individuals and economies must also manage risk and uncertainty in order to remain successful. Finally, both individuals and economies must be able to adapt to changing conditions in order to remain competitive.
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in tcs what is Digital Rights Management (DRM ) changes the way You can access and work with files downloaded from Ultimatix Click Hereto know if you are ready for DRM
One technique to safeguard copyrights for digital media is through digital rights management (DRM). This strategy uses technologies that restrict the duplication and utilization of proprietary software and works protected by copyright.
DRM, in a sense, gives publishers or authors the ability to regulate what paying users can do with their products. Employing digital rights management or other procedures can assist businesses in preventing people from accessing or utilizing particular assets, allowing the company to avoid legal concerns brought on by unlawful usage. Data security is now being increasingly influenced by DRM.
Online piracy has become the devil's advocate for copyrighted content with the emergence of peer-to-peer file exchange services like torrent sites. DRM methods are not effective at catching pirates.
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where price is given in dollars and quantity in millions of barrels per day. the domestic equiibrium price is 22.67
where the price is given in dollars and the quantity is given in millions of barrels per day. With 9.3 million barrels traded per day, the domestic equilibrium price is $22.67 per barrel.
An equilibrium price, also known as a market-clearing price, is the consumer cost assigned to a product or service at a point where supply and demand are equal or nearly equal. The manufacturer or vendor can sell as many units as they want, and the quantity customer can buy as many as they want. There is no shortage or surplus at the equilibrium price: the quantity of the good that buyers are willing to buy equals the quantity that sellers are willing to sell.
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g Suppose you buy a share of stock today for $5,000 and sell it for $9,000 at the end of four years. What interest rate will you have earned on your investment
You will have earned 7.62% interest on your money with the investment for $5,000 and sell it for $9,000 at the end of four years.
What is the interest rate?Interest rate is the amount of interest paid each month, expressed as a percentage of the amount lent, invested, or borrowed. Borrowed money and total interest on borrowed money depend on the principal, the annual interest rate, the consistency of compounding interest, and the term of the loan, deposit, or borrowing.
Stock today = $5,000
Stock value after 8 years = $9,000
Future value = Present value × (1 + Rate of Interest)^Year
9,000 = 5,000 × (1 + Rate of Interest)⁸
1.80125 = (1 + Rate of Interest)⁸
1.0762 = (1 + Rate of Interest)⁸
Rate of Interest = 0.0762 which is 7.62%
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The full question is,
Suppose you buy a share of stock today for $5,000 and sell it for $9,000 at the end of eight years. What interest rate will you have earned on your investment?
8.95%
7.62%
6.87%
9.21%
Repeat business for a salesperson is generated by: Answer options order fulfillment service close suggestive selling recommending larger quantities
Repeat business are purchases made to replace the same goods or services that a customer previously purchased and consumed.
Repeat purchases are an example of brand loyalty. For example, if a customer is satisfied with a particular brand of shampoo, when it's time to replace it, they may purchase the same product or another related product from the same brand. Repeat sales are sometimes called "exchange sales" or "buybacks."
Repeat purchases come from customers who buy products and services they like again.
Repeat purchases are cost effective for businesses as they cost less than using advertising and marketing. This is especially true for e-commerce businesses, as 50% of their business comes from repeat sales.
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X
✓
The primary function of the Gini coefficient is to
(4 points)
measure the quality of human capital in an economy
O explain the cause of income inequality
O measure income inequality in an economy
show the efficiency of an economy
show the amount of wealth in an economy
Points
Answer:
The primary function of the Gini coefficient is to measure income inequality in an economy. It is a statistical measure that is used to represent the distribution of income or wealth among a population. A Gini coefficient of 0 indicates perfect equality, where everyone in the population has the same income or wealth. A Gini coefficient of 1 indicates perfect inequality, where one person has all the income or wealth in the population. The Gini coefficient is often used to assess the level of income inequality in a country or region and can be used to inform policy decisions related to redistributive measures such as taxes and welfare
Jesse is a part-time nonexempt employee in Austin, Texas, who earns $11.00 per hour. During the last biweekly pay period he worked 35 hours. He is married filing join and takes the standard withholding, which means his federal income tax deduction is $5.00, and has declared additional federal tax withholding of $20 per pay period. What is his net pay
Jesse's net pay is computed at $330.55
Net pay is the term used to describe the take-home pay that employees get after all payroll deductions have been made from their gross pay. Your gross pay is your income before any taxes and other withholdings have been made. What is frequently referred to as your annual salary is your annual gross income. After deductions like income tax and national insurance have been made, the remaining amount is known as net pay. What is frequently referred to as your take-home salary is that.
Net Pay:
Gross Pay = (35 * 11) = $385
(-) Federal Income Tax Deduction = ($5)
(-) Additional Federal Tax Withholding = ($20)
(-) Social Security Tax = (35 * 11 * 6.2%) = ($23.87)
(-) Medicare Tax = (35 * 11 * 1.45%) = ($5.5825)
NET PAY = $330.55
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Queequeg throws a handful of small bones to see into the future when he sees his own death, what three things does he do
After becoming ill while scrubbing the Pequod's hull, Queequeg is on the verge of death. He tells Ishmael to have a carpenter build a coffin for him.
Queequeg is the first main character that the narrator, Ishmael, meets. He is the son of a South Sea chieftain who left home to travel the world. One such item is Queequeg's coffin, which ends up symbolizing life emerging from death. It was ironic, as Ahab once remarked, to witness something that had been created for death being transformed into a means of supporting life. Queequeg becomes gravely ill and, believing he is going to pass away, orders the construction of a coffin. Eventually, after Queequeg has recovered, he advises that his coffin be transformed into a lifebuoy to replace one that the ship lost.
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Lanning to finance higher education helps people prepare for their financial future because it teaches them about loans and interest. savings accounts. filing taxes. short-term goals.
Planning to finance higher education helps people prepare for their financial future because it teaches them about funds management and loans and interest.
The oversight and management of an economic institution's cash flow is known as funds management. The fund manager will ensure that the deposit maturity schedules correspond to the loan demand. To do so, the manager examines the both obligations and the investments that affect the bank's capacity to provide credit.
Loan means the time period over which the borrower must repay the loan. The rate that the quantity owed grows, usually expressed as an annual percent rate (APR) is known as Interest Rate. Loan Payments are defined as amount of cash that must be paid each month or week to gratify the loan terms.
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Read the short case on ‘two very different hotels’ in Slack et al. (2014, p. 24 - 25) and write a response to the following questions.
1. For each hotel, what is the role of technology and the role of the operation’s staff in delivering an appropriate level of service?
2. What are the main differences in the operations management challenges facing the two hotels?
Hotel 1: The role of technology in delivering an appropriate level of service for Hotel 1 is to provide efficient processes and systems that enable the hotel to run smoothly and efficiently.
Technology is used to automate many of the operations processes, such as booking and check-in, as well as providing the hotel with a secure and reliable online presence. The operation’s staff are responsible for managing the day-to-day operations of the hotel, such as housekeeping, customer service, and maintenance. They are also responsible for providing a personalized service to guests, ensuring that the hotel is providing a high level of service and meeting customer expectations.
Hotel 2: The role of technology in delivering an appropriate level of service for Hotel 2 is to provide a platform to facilitate the personalized service that the hotel is offering. Technology is used to enable the hotel staff to provide a tailored experience to each guest, such as being able to customize the menu, music, and other aspects of the guest experience. The operation’s staff are responsible for managing the day-to-day operations of the hotel, as well as providing a personalized service to each guest. They are also responsible for ensuring that all aspects of the hotel’s operations are running smoothly and efficiently.
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According to the lesson, which of the following industries was the first to produce modern corporations
According to the lesson, a. railroads were the first industries to produce modern corporations.
Railroads were the first industries to produce modern corporations, revolutionizing the way businesses were conducted and laying the foundation for the global economy of today.
By creating large-scale organizations, the railroad industry enabled companies to generate large profits and use those profits to expand their businesses.
This development allowed the railroad industry to become more efficient and prosperous, leading to the rise of the modern corporation.
Additionally, this industry sparked the development of new technologies, such as the locomotive, which further allowed businesses to expand their reach.
Ultimately, the railroad industry provided an invaluable foundation for the modern corporate model and its many successes.
Although a part of your question is missing, you might be referring to this question:
According to the lesson, which of the following industries was the first to produce modern corporations?
a) railroads
b) IT
c) agriculture
d) none of the above
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The modern corporation as we know it today had its beginnings in the industries of banking, finance, transportation, and manufacturing. These industries were the first to recognize the potential of the corporation as an organizational structure, and as a result, shaped the way modern businesses are structured and operated today. With the development of the corporation, many new opportunities opened up for businesses, allowing for increased growth and success.
What is advertising branding?
A brand's identity is strengthened and consumer loyalty is increased through brand advertising, which is a type of advertising intended to raise awareness for a brand, a product, or a service.
What are the 4 elements of branding?These are the four key brand elements that you must take into consideration while creating your brand strategy. Strong brand identities, images, cultures, and personalities are necessary for a successful brand. While branding determines the tone and focus of advertising campaigns, advertising can increase brand recognition. In addition to boosting advertising efforts, marketing can control brand accountability and support a brand's reputation.
By establishing relationships with your audience, you can eventually convert them into devoted consumers. You can distinguish your company from rivals who aren't taking advantage of this by building a brand that people genuinely care about. Consistency, Clarity, and Character are the three Cs of brand messaging. Personal branding typically takes place in settings where individuals connect, whether they are prominent personalities or not, such as on social networking sites or at business gatherings.
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Flax purchased $5,000 in equipment during Year 4. Flax allocated one-third of its depreciation expense to selling expenses and the remainder to general and administrative expenses. What amounts should Flax report in its Statement of Cash Flows for the year ended December 31, Year 4, for cash paid for income taxes
For the year ended December 31, Year 4, cash paid for items to be sold is $226,500. This includes cash paid for income taxes.
Which of the following should be included in the statement of cash flows quizlet?On the statement of cash flows, under the heading "Investing Activities," should be listed the purchase of equipment using a six-month note. The proper order to disclose financial activities is financing, operating, and investing when creating a statement of cash flows.
As noted and displayed in bold type in the question above, the cost of goods sold is $250,000.
Cash for cost of goods sold: $250,000 - $16,000 - $7,500 = $226,500
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which of the following is the correct word phrase of "4b+10"?
A. four added to 10
B. the product of four and B added to 10
C. the sum of 4 and B plus 10
D. the product of four and B subtracted to 10
Which of the following may cause a favorable sales volume variance of the revenues? O Actual sales in dollars are greater than the master budget sales in dollars. O The flexible budget sales in dollars are greater than the static budget sales in dollars. O Actual sales in dollars are less than the static budget sales in dollars. O Actual net income for the subunit is greater than budgeted net income.
The correct answer to the given question about favorable sales of revenue is option B) The flexible budget sales in dollars are greater than the static budget sales in dollars.
An example of a budget that includes predicted values for inputs and outputs that are thought of before the period in question begins is a static budget. A static budget, which is an estimate of revenues and expenses for a specific period, remains constant despite changes in sales and production amounts. The figures from static budgets can, however, be very different from the real results as compared to those that are discovered after the fact. Accountants, finance experts, and management teams of businesses utilize static budgets to assess the financial success of a company over time. A flexible budget is one that is based on various sales volumes. A flexible budget is used to modify the static budget for each anticipated level of production. This adaptability allows management to anticipate how the budgeted numbers will change when the sales volume varies.
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What are the 4 factors of production How can the factors impact a business?
Answer:
D,5,6,e
Explanation: