chapter Seven Consumer Behavior I. Law of Diminishing Marginal Utility A. Although consumer wants in general are insatiable, wants for specific commodities can be fulfilled. The more of a specific product that consumers obtain, the less they will desire more units of that product. This can be illustrated with almost any item. The text uses the automobile example, but houses, clothing, and even food items work just as well. B. Utility is a subjective notion in economics, referring
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|Internal Control and Accounting Systems (AQ2013) | |For use in the AAT Accounting Qualification | |A to Z Vehicle hire |Assessment book | Time allowed: Four months
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value return for invested unit of capital, here the US dollar. The equation is the following: Profitability Index = PV of future cash flows/initial investment. In every year, and in every case, we chose the highest level of profitability that our budget constraints would allow. If we were faced with a project that had a relatively high PI but lacked the budget to enter into the project, we simply went down the list to the next best PI index level until we came upon a project that we could afford
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Filipino women care about their looks, Barra said, and 72% of them specifically like to improve their hair and change their complexion. This is supported by the purchase growth of 12.6% in hair conditioners and 6.3% in hand and body lotion from June 2009 to June 2013. TABLE 1.1 Alternative Market Baskets CONDITIONER LOTION | A | 50 | 10 | B | 32 | 25 | D | 50 | 40 | E | 22 | 10 | C | 20 | 55 | | | | Figure 1.1 D D CONDITIONER
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expenditures and revenues for the ensuing fiscal year. In modern industrial economies, the budget is the key instrument for the execution of government economic policies. Because government budgets may promote or retard economic growth in certain areas of the economy and because views about priorities in government spending differ widely, government budgets are the focus of competing political interests. The budget has been announced with eight major objectives including creating employments, maintaining
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MASTER BUDGET QUESTIONS 10-1 Compel strategic planning and facilitate implementation of strategic plans. An organization’s strategy, strategic plans, and budgets are interrelated. Preparing budgets compels reviews of an organization’s strategy and its strategic plans and can facilitate implementations of the strategic plan. Feedback from budgets often results in improvements to an organization’s strategy and strategic plan. Serve as a basis for performance evaluation. Budgets serve
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Financial controls Which accounting system? Reserves Budgeting Cash flow Book keeping Petty cash Bank reconciliation Finance reports Annual accounts Glossary Financial controls are the written rules and procedures for financial control and management that all organizations should have. Financial controls should cover, for example, who can sign cheques, who maintains the cash books, and how petty cash is administered. Some of these rules will be laid down by the constitution
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in my office (ST-S 3045). Part 1 (10 points) Use the information in Appendix A to complete the following: | | Actual Results | Flexible Budget | | Flexible Budget | Sales Activity | | Master Budget | | | |Variances | | |Variances | | |
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Procedure Cash Management Cash Management 1. DEFINITIONS............................................................................................................. 3 1.1. Cash Management ............................................................................................................................... 3 1.2. Cash Flow Analysis .....................................................................................................................
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Case Study 9-55 CASH BUDGET 1. We began by determining how much money is being made and also how much money will be available for spending and etc., which results in $21, 360. To come up with this number look at the chart below: The calculations that were used to determine how much cash is collected:| |Average Fee ($)|Quantity|Formula used:|Equals =| Fillings|50|90|$50 x 90|$4500| Crowns|300|19|$300 x 19|$5700| Root Canals|170|8|$170 x 8|$1360| Bridges|500|7|$500 x 7|$3500| Extractions|45|30|$45
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