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.
Write down a short note on the Performance evaluation and control in decision making process?
The process of testing a new software program using actual data and comparing the results to the alternative soft wares. The alternative can be new software or the organization's existing system. The test should be examined the software's accuracy and efficiency.
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Explain Management accounting as an information system in brief?
Write a short note on the key areas which business objectives want to achieve?
Cost Allocation: This is a technique of assigning costs to activities, outputs, or other cost objects. The allocation base employed to assign a cost to objects is not essentially the cause of the cost. For illustration, assigning the
Limited partnerships: Limited partnerships are an alternative to limited liability companies because of their simplicity. All the states encompass passed limited partnership legislation.A limited partn
A partnership is stated as ‘the relationship which subsists among persons carrying on business in common with a view togain or profit’
Outcome: The outcomes of a program activity as compared to its intended aims. Program outcomes might be computed in terms of service or product quality and quantity, customer satisfaction, and usefulness.
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