Reliability-Accounting information
What do you mean by the term Reliability which is accounting information?
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Reliability: Management accounting must be free from noteworthy errors or bias. This must be capable of being relied on by managers to symbolize what it is supposed to stand for. Although both relevance and reliability are mush significant, the problem that we seldom face in accounting is that information which is highly relevant might not be much dependable and that that is reliable might not be much relevant.
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.
Inter-Entity: A term meaning between or among distinct federal reporting entities. It generally refers to the activities or costs among two or more agencies, bureaus or departments.
What do you mean by the term changing business landscape?
Q : When does a partnership exist A) A 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
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
Unit Cost: The cost of a chosen unit of a good or service. Illustrations comprise dollar cost perton, machine hour, labor hour, and department hour.
What do you mean by the term provision of management accounting information?
Give reasons in favor of having a partnership deed. Answer: A) In situation of any dispute or doubt, Partnership deed is the gui
What do you mean by the term Comparability which is accounting information?
Outputs: Any product or service formed from the consumption of resources. This can comprise information or paper work produced by the completion of the tasks of an activity.
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