Define Cost Object
Cost Object (also referred to as Cost Objective): It is an activity, item, or output whose cost is to be computed. In a wide sense, a cost object can be an organizational division, task, a function, product, service, or a customer.
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:
What is the various information that a manager need to make a decision?
Briefly illustrate the general role of accounting?
What do you mean by the term Reliability which is accounting information?
Write down a short note on determining costs and benefits in decision making process?
What do you mean by the term reaping the benefits of IT? Explain n brief?
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.
Differential Cost: The cost difference predicted when one course of action is adopted rather than others.
Give a brief introduction of the term ‘Management Accounting’. And also write down its objectives?
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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