Mickle Company has the following information:
Purchases are paid for in the following manner:
20 percent in the month of purchase
50 percent in the month after purchase
30 percent two months after purchase
-Mathematical models of the master budget that can react to any set of assumptions about sales, costs, and product mix are called

Question

Mickle Company has the following information:
  Purchases are paid for in the following manner:
20 percent in the month of purchase
50 percent in the month after purchase
30 percent two months after purchase
-Mathematical models of the master budget that can react to any set of assumptions about sales, costs, and product mix are called

Quizplus · Accepted Answer

The given definition matches with financial planning models. Working models typically refer to physical prototypes or simulations. Accounting models are specific to tracking financial transactions and preparing financial statements. Master models is not a commonly used term in finance or accounting.

Mickle Company Has the Following Information