Define Indirect Cost
Indirect Cost: A cost which can’t be recognized particularly with or traced to a specified cost object in an economically feasible manner.
Direct Cost: The cost of resources directly used by an activity. The direct costs are assigned to actions by direct drawing of units of resources used by individual actions. A cost which is particularly recognized with a single cost o
What do you mean by the term Reliability which is accounting information?
Three main elements of Partnership: A) Carrying on of a business: • A ‘business’ is any trade, occupation or pr
Responsibility Center: It is an organizational unit headed by the manager or a group of managers who are responsible for its actions. The responsibility centers can be measured as revenue centers (that is responsible for revenue or sa
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.
What are Arrears? And what are the conditions to make Arrears?
Explain Management accounting as an information system in brief?
What is the maximum and minimum number of partners in each and every type of partnership? Answer: There must be at least two persons to build a Partnership. The maxi
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What do you mean by the term Comparability which is accounting information?
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