Define Current Year
Current Year (CY): It is a term utilized in budgeting and accounting to designate the operations of the current fiscal year in contrast to past or future periods.
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Define the term Unappropriated Surplus: It is an outdated term for that part of the fund balance not reserved for particular purposes.
ABC Company manufactures three types of products and has provided you with the following linear problem: Max Z=15X1+20X2+14X3 (Total profit)s.t.5X1+6X2+4X3<=210 (Total labor hours available)10X1+8X2+5X3<=200
3-year Expenditures and Positions: The display at the beginning of each departmental budget which presents the different departmental programs by title, dollar totals, places, and source of funds for the past, current, and budget years.
Describe how a firm find out the optimal level of current assets. The optimal level of working capital is finding out by determining the amount that balances the requirement for liquidity and for profitability.
Control Sections: The sections of the Budget Act (that is, 1.00 to the end) giving specific controls on the appropriations itemized in the Section 2.00 of Budget Act.
Define the term State Fiscal Year: This is the period beginning from July 1 and continuing through the subsequent June 30.
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