Determine in Which Spending Category,if Any,each of the Following Transactions

question 89

Essay

Determine in which spending category,if any,each of the following transactions would be recorded.
(A)Ford sells a Thunderbird from its inventory.
(B)Ford sells a Thunderbird that it produced this year to the state government.
(C)The city of Dallas purchases computer paper for its employees from a local firm.
(D)A business in Dallas purchases computer paper for its employees from a local firm.
(E)Your grandmother wins $10 million in the lottery.
(F)You purchase a newly constructed house.

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Definitions:

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity, making it more useful for controlling costs than a static budget.

Worst-Case Scenario

The most adverse or unfavorable outcome that may happen in a given situation.

Flexible Budget Performance Report

A report comparing actual costs and revenues with budgeted figures adjusted for actual levels of activity, to evaluate performance.

Budgeted Performance

Anticipated financial and operational results over a specific period, based on budgets, used as a benchmark for comparison with the actual performance.