Describe how to implement the "envelope" budgeting system
What will be an ideal response?
Answer: For those new to budgeting or those with small amounts of self-discipline, the envelope system is useful. Use a separate envelope for each major monthly expense, including one for miscellaneous, and label each with the expense name. From the appropriate paycheck or source of income, allocate the proper amount of money for each envelope. Use the money in each envelope only for its intended use, and you should have enough to go around. As soon as possible, add an envelope for savings and emergencies.
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To find operating cash flow for the business for the year, add depreciation expense to EBIT and then ________
A) subtract the interest expenses B) add the taxes C) subtract the taxes D) add interest expenses
Data dictionaries restrict business rules
Indicate whether the statement is true or false