Fixed capital of partners
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if the capital of Partners remains unchanged except in the situation where further capital is introduced or capital is withdrawn enduringly.
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if the capital of Partners remains unchanged except in the situation where further capital is introduced or capital is withdrawn enduringly.
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.
Explain Management accounting as an information system in brief?
Explain the term bank reconciliation statement?
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
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What is Uncontrollable Cost: The cost over which an accountable manager has no persuade.
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.
The duties of each partner: The partners are beneath a fiduciary duty towards one another to: Render true accounts; Account for private gains; and Refrain from competition with the partnership firm.
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