Do financial planning and budgeting mean the same thing? 1) True 2) False

Answers

Answer 1
Answer: This answer is true because A budget is also known as a spending plan.
Answer 2
Answer:

Financial planning and budgeting are not the same. Financial planning involves setting goals and creating a plan, while budgeting is a specific part of financial planning that focuses on managing income and expenses.

No, financial planning and budgeting do not mean the same thing.

Financial planning refers to the process of setting goals, analyzing financial resources, and creating a plan to achieve those goals.

It involves considering factors such as income, expenses, investments, and savings to make informed decisions.

On the other hand, budgeting is a specific part of financial planning.

It focuses on creating a detailed plan for managing and allocatingincome and expenses. Budgeting helps individuals or organizations track their spending, manage debt, and save for specific goals.

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A chisel bar can be used to

Answers

A chisel bar can be used to turn cement or stone into a statue or figure. Chisel tools have an especially sharp edge, which makes them perfect for doing fine and detailed work in very hard materials that might not otherwise be able to have work done upon them.

Final answer:

A chisel bar is a versatile tool that is primarily used to remove and shape materials. It can be used for fine sculpting of detailed pieces or the removal of waste material. It can also be used to fracture sturdy materials like concrete or brick.

Explanation:

A chisel bar is a versatile tool used for a variety of tasks. Primarily, it is used to remove material from surfaces and to shape certain objects. This can involve the removal of waste material from larger pieces of work, or the fine sculpting of detailed pieces. In addition, chisel bars are also commonly used for breaking up materials such as concrete or brick. For instance, when a wall needs to be demolished or renovated, a strong chisel bar can help fracture sturdy materials. In summary, a chisel bar is primarily used for shaping and removing materials.

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In the current year, Chastain takes a trip from Charleston, South Carolina to France primarily for business purposes. He is away from home from March 5 through March 16. He spends four days vacationing and eight days (including two travel days) conducting business. His airfare is $2,900, his meals amount to $180 per day, and lodging and incidental expenses are $420 per day. He is self-employed. In your computations, round any division to two decimal places and use rounded amounts in subsequent calculations. Chastain's deductible expenses are:Plane and taxi expenses: $ _________.Lodging and incidental expenses: $ ___________.Meals: $ _________.

Answers

Answer:

Plane and taxi expenses - $1,943

Lodging and incidental expenses - $3,360

Meals expenses - $720

Explanation:

Certain business expenses are fully deductible limited to the amount used for business purpose. Some such expenses are travel expenses (air or roadways), lodging and other commutation charges. Expenses on meals are 50 percent deductible.

Chastin spends 4 days vacationing. So expenses incurred during that time are not deductible under business expenses.

He was conducting business for 8 days. Proportional amount of plane and taxi expenses will be deductible under business expenses as calculated below:

Plane and taxi expenses (Proportion for business) = 8 / 12 = 0.67

12 are total number of days for which expenses were incurred and 8 out of 12 days were for business purpose.

Deductible Plane and taxi expenses = 0.67 × 2,900 = $1,943

Lodging and incidental expenses = $420/day

Deductible lodging and incidental expenses = 420 × 8 = $3,360

Meals expenses = $180/day

Deductible meal expenses = 180 × 8 × 0.5

                                           = $720

Only 50% of meals expenses are deductible under business expenses.

What are five characteristics which help differentiate projects from other functions carried out in the daily operations of the organization?

Answers

Answer:

Explanation:

5 characteristics of project:

change - projects are used to change an existing process. For example, project to improve the performance of existing software will bring change in working of software

temporary - project is temporary, it is held to achieve some results or bring change and has a completion time

cross-functional - it involves people from various departments and backgrounds

uncertainty - every project has an element of uncertainty. There are no guarantees

unique - there are no absolutely similar projects

A _____ is the most difficult for the Federal Reserve to address because it causes both inflation and unemployment to rise.a)positive demand shock



b) negative supply shock



c) positive supply shock



d)negative demand shock

Answers

B) negative supply shock

Susan is afraid that someone stole her identity using the details she provided for an online credit card application. Which agency can she complain to?

Answers

Susan can complain to the Federal Trade Commission. The agency is responsible for giving her an Identity Theft ID signifying that she may be a victim of identity theft. Susan can then bring her report to the police so that proper action can be taken.

The correct answer is the

Federal Trade Commission

:)

Benet Division of United Refinery Company's operating results include: controllable margin, $200,000; sales $2,200,000; and operating assets, $800,000. The Benet Division's ROI is 25%. Management is considering a project with sales of $100,000, variable expenses of $60,000, fixed costs of $40,000; and an asset investment of $150,000. Should management accept this new project?

Answers

Answer:

No

Explanation:

As we know that

Return on investment = Net income ÷ Investment

where,

Net income is

= Sales - variable expense - fixed cost

= $100,000 - $60,000 - $40,000

= $0

And, the asset investment is $150,000

So, the return on investment is

= $0 ÷ $150,000

= 0%

The required return on investment is 25%

So, the  new project should not be accepted as the return on investment is 0%