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For each of the following scenarios, indicate whether the individual made a correct choice or an incorrect choice When pr Correct Choice Incorrect Choice Nathan is a sales rep who, based on last year, averaged $2,200 of monthly commission before taxes. He should include this in hs budget. Stella was just notified that her contribution to the company's health plan is increasing by 3.5%. It's a company expense, se Stella doesn't include it in her budget.

For each of the following scenarios, indicate whether the individual made a correct choice or an incorrect choice When pr Correct Choice Incorrect Choice Nathan is a sales rep who, based on last year, averaged $2,200 of monthly commission before taxes. He should include this in hs budget. Stella was just notified that her contribution to the company's health plan is increasing by 3.5%. It's a company expense, se Stella doesn't include it in her budget.

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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Budgeting Examples For each of the following scenarios, indicate whether the individual made a correct choice or an incorrect choice when preparing a budget. Correct Incorrect Choice Choice Nathan is a sales rep who, based on last year, averaged $2,200 of monthly commission before taxes. He should include this in his budget. Stella was just notified that her contribution to the company's health plan is increasing by 3.5%. It's a company expense, so Stella doesn't include it in her budget. As Sam was reconciling his checkbook, he realized that he incurred $13.25 last month for ATM withdrawals. He looked back at the last six months and realized that he averaged the same amount each month, This is an unexpected expense and shouldn't be listed in his budget. Every year the Wus buy a big item or take a trip with a single annual bonus Barb receives. They included this in their budget.
Transcribed Image Text:Budgeting Examples For each of the following scenarios, indicate whether the individual made a correct choice or an incorrect choice when preparing a budget. Correct Incorrect Choice Choice Nathan is a sales rep who, based on last year, averaged $2,200 of monthly commission before taxes. He should include this in his budget. Stella was just notified that her contribution to the company's health plan is increasing by 3.5%. It's a company expense, so Stella doesn't include it in her budget. As Sam was reconciling his checkbook, he realized that he incurred $13.25 last month for ATM withdrawals. He looked back at the last six months and realized that he averaged the same amount each month, This is an unexpected expense and shouldn't be listed in his budget. Every year the Wus buy a big item or take a trip with a single annual bonus Barb receives. They included this in their budget.
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