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7. The following are forecasting steps done as part of financial planning. 1) Preparing projected financial statements 2) Estimating marketing and administrative expenses 3) Estimating sales projection 4) Preparing production schedule 5) Determining additional funds The correct arrangement of the steps is: a) 5-3-1-2-4 b) 1-3-2-5-4 c) 3-4-2-5-1 d) 3-5-2-1-4 conce fr em 201 0 cale fA75 000 It bone cost of ForthiE MORE 2020 Dulse Capd

7. The following are forecasting steps done as part of financial planning. 1) Preparing projected financial statements 2) Estimating marketing and administrative expenses 3) Estimating sales projection 4) Preparing production schedule 5) Determining additional funds The correct arrangement of the steps is: a) 5-3-1-2-4 b) 1-3-2-5-4 c) 3-4-2-5-1 d) 3-5-2-1-4 conce fr em 201 0 cale fA75 000 It bone cost of ForthiE MORE 2020 Dulse Capd

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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7. The following are forecasting steps done as part of financial planning. 1) Preparing projected financial statements 2) Estimating marketing and administrative expenses 3) Estimating sales projection 4) Preparing production schedule 5) Determining additional funds The correct arrangement of the steps is: a) 5-3-1-2-4 b) 1-3-2-5-4 c) 3-4-2-5-1 d) 3-5-2-1-4 For this year 2020, Dulce Candies expects a 15% increase from 2019 sales of P75,000. It hopes to maintain cost of sales ratio at 32%; and marketing and administrative expenses at 8% of sales. Based on these assumptions, 8. Amount of sales for year 2020 should be a) #11,250 b) P24,000 P86,250 d) P105,000 9. Cost of sales at that volume is expected to be a) P24,000 |b) #63,750 c) P99,000 d) P105,000 10. Marketing and administrative expenses should be around b) P32,000 a) P75,000 c) P11,250 P6,000
Transcribed Image Text:7. The following are forecasting steps done as part of financial planning. 1) Preparing projected financial statements 2) Estimating marketing and administrative expenses 3) Estimating sales projection 4) Preparing production schedule 5) Determining additional funds The correct arrangement of the steps is: a) 5-3-1-2-4 b) 1-3-2-5-4 c) 3-4-2-5-1 d) 3-5-2-1-4 For this year 2020, Dulce Candies expects a 15% increase from 2019 sales of P75,000. It hopes to maintain cost of sales ratio at 32%; and marketing and administrative expenses at 8% of sales. Based on these assumptions, 8. Amount of sales for year 2020 should be a) #11,250 b) P24,000 P86,250 d) P105,000 9. Cost of sales at that volume is expected to be a) P24,000 |b) #63,750 c) P99,000 d) P105,000 10. Marketing and administrative expenses should be around b) P32,000 a) P75,000 c) P11,250 P6,000
1. Financial planners work_ a) Independent of other departments c) Only with the production department b) In coordination with all departments d) With inputs only from the top 2. _conveys the ultimate goal of the organization. b) Mission c) Objectives a) Goals d) Vision 3. _defines the nature of the business, and its current business activities to realize its vision. a) Goals b) Mission c) Objectives d) Vision 4. _refers to accounts payable and accruals incurred because of increase in assets other than property, plant and equipment. a) Cost of sales ratio b) Dividend payout ratio c) Retention ratio d) Spontaneous liability 5. Lare specific and short-term directions for the actions to be done to reach the goals. d) Vision a) Goals b) Mission c) Objectives 6. is the portion of earnings that is plowed back to the business. b) Dividend payout ratio a) Cost of sales ratio c) Retention ratio d) Spontaneous liability
Transcribed Image Text:1. Financial planners work_ a) Independent of other departments c) Only with the production department b) In coordination with all departments d) With inputs only from the top 2. _conveys the ultimate goal of the organization. b) Mission c) Objectives a) Goals d) Vision 3. _defines the nature of the business, and its current business activities to realize its vision. a) Goals b) Mission c) Objectives d) Vision 4. _refers to accounts payable and accruals incurred because of increase in assets other than property, plant and equipment. a) Cost of sales ratio b) Dividend payout ratio c) Retention ratio d) Spontaneous liability 5. Lare specific and short-term directions for the actions to be done to reach the goals. d) Vision a) Goals b) Mission c) Objectives 6. is the portion of earnings that is plowed back to the business. b) Dividend payout ratio a) Cost of sales ratio c) Retention ratio d) Spontaneous liability
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