Define Cost
Cost: The monetary value of resources employed or liabilities or sacrificed incurred to attain an objective, such as to obtain or make a good or to execute an activity or service.
What does the difference between management accounting and financial accounting suggest?
Estimated Cost: The procedure of projecting a future outcome in terms of cost, based on information accessible at the time. The estimated costs, instead of actual costs, are at times the basis for credits to work-in-process accounts a
Write down a brief note on the illustrations of unethical and unacceptable actions?
Controllable Cost: A cost which can be influenced by the action of responsible manager. The word always refers to a particular manager as all costs are controllable by somebody.
Incremental Cost: The raise or reduction in total costs which would result from a decision to raise or reduce output level, to add a service or task, or to modify any part of operations. This information aids in making decisions such
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
A) A partnership may be formed either expressly or impliedly, and in each case all the circumstances should be examined in order to ascertain: The intention of the parties; Whether there has been a
Cost Assignment: A procedure which identifies costs with activities, outputs, or another cost objects. In a wide sense, costs can be assigned to activities, processes, products, organizational divisions, and services. There are three
The increase in value that the owner of a capital asset receives when the asset is sold. The owner pays tax on that gain or increases, at a lower rate if the assets that are sold are capital asset, such as factory buildings, rather than assets that are sold in the nor
Fortran Project This is our last project of the semester. You have freedom to code anyway you like, but make sure to meet the minimum project requirements.&nb
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