1. Which of the following statement do not relate to budgeting? (a) It is a...
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Accounting
1. Which of the following statement do not relate to budgeting? (a) It is a plan for future activities. (b) It helps the management decide how resources of a company will be used. (c) It helps management take corrective measures, if required. (d) Variances are irrelevant to budgeting.
2. Company A bought 5,000 shares of par value $10 of company B for $56,000. The fair value of assets of company B is $45,000. Calculate the amount of goodwill? (a) $5,000 (b) $10,000 (c) $11,000 (d) $9,000
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