Define Opportunity Cost
Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.
An account in financial reporting that increases the book value of a liability account. An adjunct account is a valuable account from which cred
Write a short note on the main working areas of the Routing and personnel department?
Cost Driver: Any factor which causes a modification in the cost of an action or output. For illustration, the quality of portions received by an activity, or the degree of complexity of tax returns to be evaluated by the IRS.
Write down the scope of Management accounting?
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.
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
Explain the term fixed capital of partners? Answer: Partners' capital is state to be fixed if the capital of Partners remains unchanged except in the situation where
Normal 0
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:
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
18,76,764
1926544 Asked
3,689
Active Tutors
1456050
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!