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.
Cash Management: Cash Management is the management of cash balances of a concern in such a way as to maximize the accessibility of cash not invested in inventories or fixed assets and to ignore the risk of insolvency. According to Keynes there are thr
Write some main features of partnership? Answer: Essential elements or major features of Partnership are as follows: A) Two or m
Employee Stock Ownership: It is a qualified, defined contribution, employee benefit (that is, ERISA) plan designed to invest mainly in the stock of sponsoring employer. ESOPs are "qualified" in the logic that the ESOP's sponsoring company, the selling
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?
describe how costs can be classified giving examples in each classification. explain how the different cost classifications can assist management in decision making
Write down a short note on determining costs and benefits in decision making process?
Indirect Cost: A cost which can’t be recognized particularly with or traced to a specified cost object in an economically feasible manner.
Briefly define how useful is the management accounting information is?
What is Uncontrollable Cost: The cost over which an accountable manager has no persuade.
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