Please answer all questions[Fill in the blank] Kofi runs a small landscaping business. He receives a large proportion of his income from commercial contracts that are agreed months in advance, but invoices are paid at varying times throughout the year. Help Kofi understand the difference between a cash budget and a statement of cash flows, and explain why preparing both reports is necessary for his business.[Fill in the blank] Lena runs a pop-up portrait photography studio at weekend markets. Customers pay her on the day in cash, and she pays for all her supplies in cash. Lena believes that because she only uses cash, there is no difference between how she records things and when the income or expense actually occurs. Explain whether Lena is correct, and provide a specific example relevant to her photography business to support your answer.[Fill in the blank] Ben runs a food truck selling gourmet sandwiches in the CBD. He is trying to understand his costs better so he can make smarter business decisions. Below is a list of costs Ben incurs each month: Commercial kitchen rental (fixed monthly fee for prep space) Bread and fillings used to make sandwiches Council permit to operate in the CBD Fuel for the food truck A part-time assistant paid by the hour Packaging and napkins Classify each cost as either fixed or variable, and for any two costs of your choice, briefly explain how understanding that classification could help Ben make a better business decision.[Fill in the blank] An extract of budgeted and actual data for Bright Minds Coaching, a small maths tutoring centre, is provided below: [table] Item | Actual ($) | Budget ($) Coaching fees | 58,200 | 74,000 Rent expense | (32,400) | (41,500) Advertising expense | (1,800) | (3,200) [/table] Calculate the variances for the three items above and indicate whether each is favourable or unfavourable.[Fill in the blank] An extract of budgeted and actual data for Bright Minds Coaching, a small maths tutoring centre, is provided below: [table] Item | Actual ($) | Budget ($) Coaching fees | 58,200 | 74,000 Rent expense | (32,400) | (41,500) Advertising expense | (1,800) | (3,200) [/table] Provide a feasible storyline to explain why all three variances might have occurred at the same time for Bright Minds Coaching.[Fill in the blank] What is meant by 'comparability' as a qualitative characteristic of accounting information, and why does it matter to users of financial statements? Use an example involving a company of your choice from the Australian retail or technology sector to illustrate how the pursuit of comparability might come into tension with the need to reflect a company's unique economic circumstances.[Fill in the blank] Dr. Yusuf has recently opened a dental practice and is trying to understand the Conceptual Framework for financial reporting. He is particularly confused about the difference between 'relevance' and 'reliability' when it comes to recording the value of his dental equipment. Explain both characteristics to Dr. Yusuf and use his equipment as an example to illustrate the trade-off between them.[Fill in the blank] Omar runs a sushi restaurant. His seafood supplier has recently increased prices due to higher shipping and cold-chain costs. Omar's accountant has told him that his net profit margin should remain unchanged despite the price rise. Omar is puzzled. Explain to him the possible scenarios under which this could be true, and how his gross profit margin and net profit margin might be impacted differently.[Fill in the blank] Omar is trying to better understand the Gross Profit Margin ratio and why it matters for his sushi restaurant. He knows the formula is Gross Profit / Sales but cannot see how his seafood supplier's price increase connects to this ratio. Provide a clear explanation to Omar, using simple numbers to illustrate what happens to the ratio when he absorbs the increase versus when he raises his menu prices.[Fill in the blank]多项填空题