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    Accounting questions

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    Question 16
    Mustang Company has the following data:

    The average mark-up on products is 40%, and the inventory at the end of December was $19,000. Desired inventory levels are 30% of next month's sales at cost. ________ is the desired ending inventory for April.

    $25,920

    $17,280

    $43,200

    None of these answers is correct.

    Question 17

    ________ set the overall goals and objectives of the organization.

    Strategic plans

    Capital budgets

    Pro forma statements

    Continuous budgets

    Question 18

    All of the following are financial budgets except:

    the purchases budget

    the capital budget

    the cash budget

    the budgeted balance sheet

    Question 19

    Georgia Company has the following information:

    ________ is the total estimated cash disbursement in March for the purchase of merchandise.

    $22,500

    $24,750

    $29,500

    $39,000

    Question 20

    The master budget includes forecasts for all of the following except:

    sales

    number of employees

    balance sheets

    cash disbursements

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