Question: (A) Spending Plan ( 5 marks ) Cash is an asset. If you spend it, the asset decreases. A good way to safeguard your cash

 (A) Spending Plan ( 5 marks ) Cash is an asset.

(A) Spending Plan ( 5 marks ) Cash is an asset. If you spend it, the asset decreases. A good way to safeguard your cash is to create a spending and savings plan, and then follow it. ACTIVITY Suppose you want to save $20.00 per month. You have kept track of your personal finances for several months and you see the following pattern: Money coming in each month: allowance, $20.00; part-time job, $112.00 Money going out each month: lunches, $25.00; snacks, 88.50; bus fare, $8.00; CDs, $28.00; contributions to charity, $10.00; movie theatres, $22.00; pizza, $18.00; school supplies, $14.50 Using the above information, create a spending plan that allows you to save $20.00 per month. (B) Accounting and Entrepreneurships (5 marks) Robert's Creative Toys keeps all the books and records using a manual accounting system. The business has grown and the owner realizes that a computerized accounting system would be helpful. However, he knows little about the advantages of using a computer. What advantages would there be by using a computer accounting system over a manual accounting system? ACTIVITY Discuss the advantages and disadvantages of integrating technology into the company's accounting system. What are the advantages and disadvantages of computerized accounting

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