A fiscal year, is a 12-month financial planning period that may or may not coincide with the calendar year.
Explanation:
A fiscal year to the government is just like a financial year for a company/corporation.
A government can have a fiscal year from the middle of a year (July) to the next year (June) which in total is 12 months.
Sometimes a fiscal year coincide with the calendar year but that does not acknowledge the fact that is must be a calendar year.
This fiscal period are a planned period to take up projects or meet budgets.
Your godmother put $2,000 in a trust fund for you. In 10 years the fund will be worth $5,000. 9.60% is the rate of return on the trust fund.
FV = Future Value
PV = Present Value
r = rate of interest
n= no of period
FV/ PV = (1 + r )^n
5000/2000 = (1 + r%)^10
2.5 = (1 + r%)^10
r = 9.60%.
The rate of return is the net profit or loss of an investment over a period of time, expressed as a percentage of the original cost of the investment. 1 When calculating the rate of return, find the percentage change from the beginning of the period to the end of the period.
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Answer:
The correct answer is letter "B": Accounting centralizes and organizes processes.
Explanation:
Managerial Accounting is internally-based accounting that helps managers measure the results of their decisions. This is in contrast to financial accounting which emphasizes in more general, higher-level financial results of the company.
One common managerial accounting tool in determining the profit margin in each of the company's products. This information helps managers set product prices and ensure they are making appropriate profit margins.
Answer:
The correct answer is letter "C": All of the above.
Explanation:
Managers should have<em> relevant information</em> handy so they can make optimal decisions. However, the information does not always is received in the first place by managers but by employees. Thus, organizations must find a way to move that information to the top positions.
<em>That is why relevant information must be moved to high-rank executives otherwise the positions of decision-making must be provided to those with more corporate information available.</em>
