Question 1

Which of the following statements is true

A the defition of planning states that manahers should be held responsible for those iteams- and only those items that the managar can actually controll

B planning involves gathering feedback that enables organizations to make modifications as circumstances change

C planning is usually done independed from the budgeting process

D planning involves developing goals and preparing various budgets to acheive those goals

Question 2

Assume a company is preparinh a budget for its first 2 months of operations. During the first and second months it expects cash sales of 250000 and 41500, respectively. it also ex[ects credit sales of 51500 and 61500, respectively. The company expects to collect 45% of its credit sales in the month of the sale, 50 % in the following month, and 5 % is deemed uncollectible. What amount of cash collections would appeaer in the companys cash budget for the first month

A 41500

B 23175

C 64675

D 48175