1. Explain the differences between fixed, variable, and semi-variable costs and provide examples of each.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1. Explain the differences between fixed, variable, and semi-variable costs and provide examples of each. 

2. Explain the difference between General Depreciation System (GDS) and the Alternative Depreciation System (ADS).

3. How would you compute the following in order submit a proposal for a new administrative assistant for your department, Exhibit 10-1?

Hourly Rate = $14.15

Vacation, Holiday, Sick Pay (You set the number of vacation, holiday, and sick pay)

Annual Compensation Package Request = (You set the compensation.  Could be training days, education days, etc.)

4.What is the primary function of a balance sheet?

5. Explain why a statement of cash flows is necessary.

6. How are solvency ratios used to provide guidance for health organizations?

7. Explain the concept of a present-value analysis.

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