Comparability-Accounting information
What do you mean by the term Comparability which is accounting information?
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Comparability: This quality will allow managers to recognize changes in the business over time. This will as well help them to compute the performance of the business in relation to other identical businesses. Comparability is accomplished by treating items which are fundamentally the same in similar way for management accounting aims. Comparability tends as well to be improved by making clear the policies which have been adopted in measuring and representing the information.
Give circumstances in which the fixed capital of partners might change. Answer: Two circumstances in which the fixed capital of Partners might change are as follows:
Describe the provision of 'Indian partnership Act 1932‘concerning sharing of profits in lack of any provision in partnership deed. Answer: In the lack of any p
What are the various factors which occurred due to the changing business landscape?
Fixed Cost: The cost which does not differ in the short term with the volume of action. Fixed cost information is helpful for cost savings by regulating existing capacity, or by removing idle facilities. Also termed as Non-Variable Cost or the Constan
Product: Any traceable, discrete, or measurable good or service given to a customer. Frequently goods are termed to as tangible products, and services are termed to as intangible products. A good or service is the product result of a procedure resulta
Accounts used in governmental accounting to record the budget amounts but not the actual amount. For example, at the beginning of the accounting period, the planned amount of tax revenue, revenue from license, and inflows from fines would be recorded as one amount in
The rights of each partner: Under the Partnership Act, partners have the right to: Share equally in profits and losses; Indemnity; Interest on advances; Interest on capital; Share in management of
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Why does a tax form a deadweight loss? A tax forms deadweight loss by artificially increasing price above the free market level, therefore reducing the equilibrium quantity. This reduction in demand decreases consumer as well as producer surplu
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