Criticize the following quotation:“At our company, budgeted revenue is set so high andbudgeted expenses so low that no department can ever meetthe budget. This way, department managers can never relax;they are motivated to keep working harder no matter howwell they are already doing.”

Q: Many managers complain about the budgeting process. They claim it takes too long, requires too much…

A: A budget is prepared with a view to estimate the future revenues and expenses for a firm over a…

Q: Profit Corp. has a subunit classified as a cost center that supports other parts of the firm but has…

A: A profit center is a department or division of a firm that directly adds to or is expected to add to…

Q: Is it important for a company to follow a strict budget even though they may be experiencing…

A: SOLUTION:- It is important for a company to follow a strict budget despite experiencing phenomenal…

Q: T. Turnover due to low job satisfaction may be desirable if it facilitates the introduction of new…

A:

Q: Using the step-down method, allocate the service department costs to the consuming departments. Then…

A: Solution:- Allocate the service department costs to the consuming departments. Then compute…

Q: Which of the following is not a criticism of using ROI as the only performance measure?

A: ROI stands for Return on investment that shows the return earned by the company on the capital…

Q: The manager of Sunshine bakery is disappointed with the reported net income for the period. The…

A: Introduction: Activity-based costing (ABC) is a method of more exactly allocating overhead costs by…

Q: When a company is decentralized, top management will have little time to focus on long-term strategy…

A: 1) This statement is FALSE Decentralization means transfer of Authority , Responsibility ,…

Q: Question (B) In many firms, managers' compensation is based on measures of managerial effort,…

A: the first question is asked about the manager living or change in the management and how the…

Q: The lower the revenue per employee, a. the more efficient the company is in generating revenue from…

A: Revenue per employee is the average money the employees generated for the store. It is the…

Q: “Production managers and marketing managers are like oil and water. They just don’t mix.” How can a…

A: Budget: The budget is a statement in which the estimated standards are set according to the needs of…

Q: “Production managers and marketing managers are like oil and water. They just don’t mix.” How can a…

A: Budget: The budget is a statement in which the estimated standards are set according to the needs…

Q: Which of the following factors will most likely have a negative impact or

A: Functions of Budget: Planning: It facilitates planning for future activities. Controlling: Budgets…

Q: Davis Construction Company has not been doing very well lately. The controller is looking over the…

A: The answer is stated below:

Q: All of the following statements regarding standards are accurate except: a. Standards allow…

A: Standards: Standards are the planned level of output for a particular period of time decided at the…

Q: 2. What are some possible drawbacks to using standard costs that Sarah might consider? a. Standards…

A: Standard cost is a predetermined, planned cost that a company expects to incur for producing a…

Q: Sometimes compensation packages include bonuses designed to provide performance incentives to…

A: Bonus: Bonus is a form of additional payment offered to employees with regular salary when they…

Q: Assume that a company has decided not to allocate any support department costs to producing…

A: Cost allocation means assigns cost to different heads or departments. It is a good tool that can be…

Q: Revision of a completed and approved budget: Multiple Choice O O O Reduces employee commitment to…

A: A budget revision may be necessary due to changes in funding levels or to reallocate allocated cash…

Q: Premier Baking Ltd. Has recently appointed a new CEO to run it bakery business, which supplies to…

A: Agency cost can be referred to an internal cost which arises due to the action made by the manager…

Q: ny companies face budgetary challenges on a continual basis. Two critical aspects that businesses…

A: Budgeting is considered to buy important financial decisions which help in for casting of result and…

Q: The prominent difference between performance reports in nonprofit and for-profit organizations is…

A: Lets understand the basics.Based on profit, organization gets divided into two types which are,(1)…

Q: Companies often try to keep accounting earnings growing at a relatively steady pace, thereby…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Which of the following statements is true? 1. A benefit from budgeting is that it forces managers to…

A: Budgeting is a financial plan that helps organization in effective utilization of its resources.…

Q: Ethan Coleman, the president and CEO of High-Tech Inc., recently stated: We are in the business of…

A: A management control system is a set of processes, tools, and techniques that an organization uses…

Q: Why might relevant costs analysis be bad for a company if used too frequently?   Multiple Choice…

A: Introduction: In managerial accounting, avoidable expenses that are only incurred in conjunction…

Q: Which of the following statements is false regarding the benefits associated with participative…

A: Associated with participative budgeting are various factors, characteristics or benefits that are…

Consumer Credit Counseling Services

Credit counseling teaches consumers about credit, budgeting, money management, and debt management. The counselor ensures that consumers can pay off their debts without declaring bankruptcy. Counselors also assist the negotiator, who negotiates with creditors on behalf of their clients to reduce interest rates on outstanding debt. Counselors can offer credit counseling to customers before or after they take on debt. Consumer Credit Counseling Services (CCCS) is a non-profit organization that offers credit counseling services. Some organizations can also be for profit. This type of organization comprises a group of professionals who are skilled negotiators.