=> A.Aligning the budget cycle to the calendar year (Jan 1 to Dec 31) ensures that the budget for Humongous Insurance (US-based) is planned consistently with its fiscal year. This alignment allows the single annual cost of living increase to be applied once within the calendar year, avoiding overlap or duplication with the Chinese subsidiary’s fiscal year.
=> C. Alternatively, aligning the budget cycle to the fiscal year of the parent company (Jan 1 to Dec 31) ensures that the cost of living increase is budgeted only once per fiscal year. This approach focuses on the primary entity’s fiscal year and allows the subsidiary’s budget to be adjusted or reported within the same cycle, maintaining consistency in applying the cost of living increase.
from question 1 topic 8
Humongous Insurance is a US-based company and operates its fiscal year from January 1 to December 31
so I think the answer is A
from question 1 topic 8
Current environment -
Ledger -
Humongous Insurance is a US-based company and operates its fiscal year from January 1 to December 31.
Requirements -
Ledger -
The Humongous subsidiary will operate in China, which requires a fiscal year from February 1 to January 31.
Humongous Insurance's subsidiary requires accounting entries to be posted from the subledger to the general ledger by 5:00 PM each day.
Trey Research requires accounting entries to be posted from the subledger to the ledger immediately.
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