Author Question: Identify the purpose of the income statement. What will be an ideal ... (Read 66 times)

james0929 · **on:** Aug 10, 2018

Identify the purpose of the income statement.

What will be an ideal response?

Question 2

Which famous French chef is given credit for the 1900 culinary movement represented by lighter, more naturally prepared dishes known as nouvelle cuisines?

A) Antoine Carme

B) Ferdinand Point

C) Guillaume Tirel

D) Auguste Escoffier

soda0602 · **Reply #1 on:** Aug 10, 2018

Answer to Question 1

Actual spending and revenue data are used to create an income statement to compare with the budgeted target numbers. The difference between the two figures is called a variance. Variances may be caused by factors that are outside managers' control, such as economic conditions or stronger than expected demand. However, managers should make every effort to attempt to meet their target, or adjust the budget to better reflect current conditions.

Answer to Question 2

B