Exhibit 4-16 -If the Price of the Computers Described in Exhibit 4-16

question 66

Multiple Choice

Exhibit 4-16

-If the price of the computers described in Exhibit 4-16 is $400,then there is:

• A) A shortage of 80 computers
• B) A surplus of 120 computers
• C) A surplus of 80 computers
• D) A shortage of 40 computers
• E) A surplus of 40 computers

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Definitions:

Budget Committee

A group of individuals responsible for overseeing the development, implementation, and review of an organization's budget.

Budgeted Balance Sheet

A financial statement projected for the future that shows the company's assets, liabilities, and equity.

Previous Year's Balance Sheet

A financial statement that displays a company's assets, liabilities, and shareholders' equity as of the end of the preceding fiscal year.

Accounting Responsibilities

The duties and tasks associated with managing and recording a company's financial transactions, ensuring compliance with accounting laws and standards.