Part DLife can be unpredictable at times, and unexpected events can affect your budget.Suppose one month you have to pay an unexpected bill that greatly impacts yourbudget. What are some actions you could take to keep your budget on track despitethe unexpected bill?BIUX² X₂15pxSpace used (includes formatting): 0/15000MA AV EEEEEEK✓Apr 20 1:19O 90

Unexpected bills are expenses that you did not anticipate or plan for in your budget. They can come…

Answered: Life can be unpredictable at times, and…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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"Budgetary slack" occurs when: Employees refuse to adhere to budgeted plans and operations. The budget is so difficult to meet that employees slack-off from work. An authoritative, or imposed, budgeting process is used. To "meet" budget objectives, employees ask for resources in excess of what they need. Employees ask for fewer resources than they need, in order to continuously improve.
A wise plan for budgeting your money is to * Oavoid writing a budget down because it will change allow no money for entertainment or recreation plan to save a given percentage of your income first O buy things that you want first so that you can afford them A budget is a*
Asumme the company has always used a ‘traditional’ incremental approach towards building its budgets to plan for the future. The company is now concerned that this may not be appropriate in the current turbulent political and economic environment which he believes may last for a number of years. As a result, he has also asked you for advice about how he might adopt a more flexible planning approach without losing financial control. Critically review the current budget preparation process. Critically analyse the potential advantages and disadvantages of adopting a ‘beyond budgeting’ approach instead. Provide Cameron with a recommendation(s) for the future based on your findings.
You recently began a job as an accounting intern at Regis Adventures. Your first task was to help prepare the cash budget for February and March. Unfortunately, the computer with the budget ile crashed, and you did not have a backup or even a hard copy. You ran a program to salvage bits of data from the budget file. After entering the following data in the budget, you may have just enough information to reconstruct the budget. (Click the icon to view information on borrowing cash.) Requirements Complete the following cash budget. (For amounts with a $0 balance, make sure to enter "0" in the appropriate input field. Enter cash deficiencies with a minus sign or parentheses. Enter the net total effects of financing with a minus sign when the amount is a net outflow. Round interest expense to the nearest whole dollar.) Regis Adventures eliminates any cash deficiency by borrowing the exact amount needed from State Street Bank, where the current interest rate is 6%. Regis Adventures pays…
Amora is one of your best friends. She keeps complaining that she runs out of money each month before she gets paid. She's asked you to help her make a budget based on her income from her part-time job. She handed you a crumpled paper with the following record of her expenditures for last month. Before you help her make a budget, first help her balance her monthly transactions by filling in the last column on the table below. To obtain the balance, add income and subtract expenditures and withdrawals. Date Transaction Expenditure Income or Balance Paycheck-Direct Deposit |ATM cash + fee Movie and soft drink Transportation $268.43 -$21.50 2/1 2/1 $17.85 $20.00 $45.00 $53.47 2/1 2/3 2/5 Hairdresser 2/10 Old Navy clothes ATM cash Jewelry Transportation 2/12 -$60.00 2/15 $36.00 $15.00 2/19
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Sometimes the sales staff will deliberately underestimate the amount of expected sales. This practice is known as A) lowballing.B) cooking the books.C) making the numbers.D) budget slack.
Personal Budget At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: Cash balance, September 1 (from a summer job) $6.550 Purchase season football tickets in September 90 Additional entertainment for each month 230 Pay fall semester tuition in September 3,500 Pay rent at the beginning of each month 320 Pay for food each month 180 Pay apartment deposit on September 2 (to be returned December 15) 500 Part-time job earnings each month (net of taxes) 810 a. Prepare a cash budget for September, October, November, and December. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Craig Kovar Cash Budget For the Four Months Ending December 31 October September November December Estimated cash receipts…

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Life can be unpredictable at times, and unexpected events can affect your budget. Suppose one month you have to pay an unexpected bill that greatly impacts your budget. What are some actions you could take to keep your budget on track despite the unexpected bill?