Classification of costs with examples and
describe how costs can be classified giving examples in each classification. explain how the different cost classifications can assist management in decision making
In the deficiency of a partnership deed, how are mutual relations of partners managed? Answer: In the absence of Partnership deed, the mutual relations are managed b
Write a short note on Not-for-profit organizations?
Common Cost: It is the cost of resources used jointly in the production of two or more outputs and the cost can’t be directly traced to any one of those outcomes.
Activity Analysis: The identification and explanation of activities in an association. The activity analysis comprises determining what activities are completed within a department and how many people execute the activities, how much
Briefly define how useful is the management accounting information is?
Investor Relations: A department, exist in most medium to big public companies, which gives investors with a precise account of the company's affairs. This aids investors to make informed sell or buy decisions. Inv
Full Cost: The sum of all costs needed by a cost object comprising the costs of activities executed by other entities in spite of of funding sources.
The amount of interest that an organization would have avoided if it had not made the expenditures for an asset. Avoidable interest is calculated when an entity is self- constructing an asset. The cost of the asset can include material, labor, and overhead plus some interest. The c
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Three main elements of Partnership: A) Carrying on of a business: • A ‘business’ is any trade, occupation or pr
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