Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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⦁ A . Define a budget and distinguish between a static budget and a flexible budget.
B. How is a budget flexed? Give an Example.
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- 1. In the studies we have seen Budgeting can be used as a control mechanism in Management. In your views, how can this used a a control mechanism. you may include examples to explain your answers. 2. Budgeting can be an important tool if implemented properly. Identify several positive results when budgets are used properly. Since budgets affect people, identify several negative aspects if budgets are not implemented properly. 3. Super Chicken operates a chain of takeaway chicken shops . The company is operating in a very competitive market , and it is difficult to gain and maintain market share . Management believes it is important to monitor competitors ' actions closely , and to continue to offer new products and special promotions to create high visibility among customers . The management team has recently reviewed its mission which is : - To be a caring and environmentally responsible company , providing fresh and nutritious meals at an affordable price . Required : Consider the…arrow_forwardExplain why budget plans must be linked to operational objectivesarrow_forwardA SWOT analysis is a strategic planning tool that evaluates a company's competitive position in the marketplace. ) a) True () b) Falsearrow_forward
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- Setting financial objectives financial objectives are part of setting strategy , chapter 2 includes the following financial objectives , except a. option A. percent return on capital. option B . A percent increase in revenue . option C .Acquire x number of new employees. option D . internal cash flows Only typing answer Please explain step by steparrow_forwardWhat are some of the financial look-outs that we must pay attention to? tips: is about hotel industry (fundamentals in food service operation)arrow_forwardDistinguish between a Master plan and a Structure plan using; i, planning process ii, plan contentarrow_forward
- IMPORTANCE OF FINANCIAL PLANNING IN BUSINESS 2 paragraphsarrow_forward29) Which of the following Capital Budgeting Method used to calculate using the condition of NPV being 0 for a project? a. None of the options b. Internal Rate of Return c. Accounting Rate of Return d. Payback periodarrow_forward9 A company had tax-deductible cash expenses of $900,000 last year, and the tax rate was 25%. What was the after-tax net cash outflow for these expenses? Select one: a. $675,000. b. $650,000. c. $390,000. d. $195,000.arrow_forward
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