Boland Manufacturing prepared a 2016 budget for 120,000 units of product. Actual production in 2016 was 130,000 units. To be most useful, what amounts should a performance report for this company compare?
a) The actual results for 130,000 units with a new budget for 130,000 units.
b) The actual results for 130,000 units with last year's actual results for 134,000 units.
c) It doesn't matter. All of these choices are equally useful.
d) The actual results for 130,000 units with the original budget for 120,000 units.
a) The actual results for 130,000 units with a new budget for 130,000 units.
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When estimating the firm's end-of-month cash balance the owner should first:
A) determine the cash balance at the beginning of the month. B) add up total cash receipts and subtract cash on hand. C) review the accounts receivable. D) make a daily list of cash disbursements.
On the books of a lessor, a lease may be classified as either ________
A) operating, capital, or direct financing B) direct financing or sales type C) operating, direct financing, or sales type D) operating, sales type or indirect financing