BUSINESS COLLEGE

9. Which of the following is true regarding the Comprehensive Annual Financial Report (CAFR)? A) The CAFR has three main sections: introductory, financial, and statistical. B) Required supplementary Information includes a Budgetary Comparison Schedule for the General Fund and all major special revenue funds that have a legally adopted annual budget

Answers

Answer 1
Answer:

Answer:

The correct answer is Both of the above (A and B).

Explanation:

The CAFR is made up of a group of financial statements that must be reported to local authorities and are reviewed by AICPA certified auditors. This document contains all the budget information from previous years and those that are projected to be completed within the following year, using simple language in order to achieve an easy understanding of the principles applied in its construction.
Answer 2
Answer:

Answer:

The answer is option A) The CAFR has three main sections: introductory, financial, and statistical.

Explanation:

The purpose of the Comprehensive Annual Financial Report (CAFR) is to provide accurate and meaningful information concerning the City's financial condition and performance.

The CAFR consists of three sections: Introductory, Financial and Statistical. The Introductory section orients and guides the reader through the report. The Financial section presents the entity's basic financial statements as well as notes to the statements and the independent auditors' report.

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Name a product or a company that you are familiar with. Discuss how environmental forces (social, economic, technological, competitive, and regulatory) will impact that product/company over the next five years.
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The annual interest rate on a credit card is 17.99%. If a payment of $200.00 ismade each month, how many months will it take to pay off an unpaid balance of$2,470.04?
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"The financial leverage multiplier is the ratio of​" ________. A. current assets to current liabilities B. total assets to total debt C. current assets to common​ stockholders' equity D. total assets to common​ stockholders' equity

Answers

Answer:

D. total assets to common​ stockholders' equity

Explanation:

The financial leverage multiplier (FLM) is defined as the ratio of the firm’s total assets to the shareholders’ equity.

Analyzing the answer choices provided, the one that better fits the description above is alternative D. total assets to common​ stockholders' equity

Is a taxpayer required to report the reimbursement of a medical expense by insurance as income if the reimbursement is received in the year following the year of the expenditure?

Answers

Answer:

The reimbursement of medical​ expenses to a taxpayer is not considered as an income or taxable by the IRS.

If the taxpayer had previously deducted the expense and it resulted in tax savings, the reimbursement of a medical expense by insurance would be taxable. More so, there would have been no tax benefit if either the taxpayer had claimed the standard deduction, or if the floor for the medical deduction exceeded the medical expenses.

According to the modern view of the Phillips curve, expansionary macroeconomic policy that leads to inflation will reduce unemploymenta. only if people underestimate the inflationary side effects of the policy.

b. only if people overestimate the inflationary side effects of the policy.

c. if people accurately anticipate the inflationary side effects of the policy.

d. only if monetary policy provides the macroeconomic stimulus.

Answers

Answer:

a. only if people underestimate the inflationary side effects of the policy.

Explanation:

The modern Phillips curve suggests that as inflation increases, unemployment reduces and vice versa dependent on two factors; the level of inflation and the excess of growth rate of wages  over the expected inflation. The larger the excess, the greater the effect of the expansionary monetary policy. Thus, if it is underestimated, then the unemployment will greatly reduce.  

In which of the following situations could a research analyst use multiple regression? A real estate development company wants to estimate the probable sales of construction services on the basis of marriage rates, population movement in the region, and interest rates on construction loans A psychologist wants to understand the underlying personality factors associated with materialism in consumers A firm wants to identify segments of the market to pursue The brand manager for Tide laundry detergent wants to understand how consumers perceive Tide relative to other laundry detergents All of the above Question 2

Answers

Answer:

A). A real estate development company wants to estimate the probable sales of construction services on the basis of marriage rates, population movement in the region, and interest rates on construction loans.

Explanation:

Multiple regression is elucidated as the statistical technique employed to determine the association between two or more dependent or response and independent/explanatory variables.

As per the question, the multiple regression can be employed in the first situation where 'a real estate company wishes to forecast the probable sales of construction on the basis of....loans.' Multiple regression analysis would help in representing the linear relationship between these two variables that helps in ensuring effective analysis and making predictions and ensuring optimum output. Thus, option A is the correct answer.

The following information describes a​ company's usage of direct labor in a recent​ period: Actual direct labor hours used 40 comma 000 Actual rate per hour $ 12.00 Standard rate per hour $ 11.25 Standard hours for units produced 27 comma 500 How much is the direct labor efficiency​ variance? A. $ 150 comma 000 favorable B. $ 150 comma 000 unfavorable C. $ 140 comma 625 unfavorable D. $ 140 comma 625 favorable

Answers

Answer:

C. $ 140 comma 625 unfavorable

Explanation:

The formula to compute the direct labor efficiency variance is shown below:

= Standard labor rate × (Standard hours for actual output - Actual hours)

where,  

Standard labor rate is $11.25

Standard hours for actual output is 27,500

And, actual hour is 40,000

Now put these values to the above formula  

So, the value would equal to      

= $11.25 × (27,500 hours - 40,000 hours)

= $140,625 unfavorable

Since actual hours is more than the standard hours so there is a unfavorable variance

Buffy is engaging product users to create an exhaustive list of things that bother them when they use the product and how often those situations arise, then asking the consumers to rate the list in order of importance and asking which brands are associated with the items on the list. She is using an approach called _____________________________

Answers

Answer: Problem detection

Explanation: Problem detection is used in R&D, it is a techniques that asks consumers who are familiar with the product or service to ponder upon an exhaustive list of things that bothers them while using the product.

This is done to find the ideas to make creative strategies and improvements in product/service.

Problem Detection approach identifies and prioritizes the most pressing consumer concerns so that the brand they are associated with can address unmet needs that exist in the marketplace.
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