Programs and Budgets Are Which Type of Operational Plan

question 81

Multiple Choice

Programs and budgets are which type of operational plan?

• A)single-use
• B)standing
• C)continuous,ongoing
• D)occupational

Identify and explain the components of a bank reconciliation and its importance.

Assess internal control procedures over cash and identify strengths and weaknesses.

Analyze transactions for proper accounting treatment and recognize warning signs of irregular activities.

Calculate the beginning and ending cash balances based on given data.

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Definitions:

Cash Payments

Transactions that involve the outlay of cash by a business for various purposes, including expenses, acquisitions, or debt repayments.

Cost of Goods Sold

The direct costs attributed to the production of the goods sold by a company, including materials and labor.

Accounts Payable

A liability to a creditor, carried on an open account, usually for purchases of goods and services.

Indirect Method

A way of reporting cash flows from operating activities in the cash flow statement by adjusting net income for changes in non-cash accounts.