Main purpose of the business
Briefly describe the main purpose of the business?
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The major purpose of business is to make and keep a customer. The customer has always given the main source of revenue for a business; this has frequently been taken for granted. In the past, too many businesses have supposed that the customer would eagerly accept whatever services or products were on offer. When competition was weak and customers were passive, businesses could operate beneath this supposition and still make gain. Though, the era of weak competition has passed. Nowadays, customers have much greater choice and are much more assertive concerning their requirements. They demand higher quality goods and services at lower prices. They as well need that services and goods be delivered quicker with rising accent on the product being adapted to their individual requirements. If a business can’t meet such needs, a competitor business often can.
Support Costs: Costs of activities are not directly related with the production. Typical illustrations are the costs of automation support, postage, communications, process engineering, and purchasing.
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
Partnership deed: Partnership deed is a written agreement including the terms and conditions agreed by all the Partners.
What do you mean by the term balancing risk and return? Explain in brief?
Why is it significant to encompass a partnership deed in writing? Answer: Partnership deed is significant as it is a document stating relationship of each and every
A company has production facilities in several countries. Some of the products they sell are produced in stages (Raw Materials -> Pre-Assembly -> Assembly -> Finished Product) based on the technologies and materials involved (see Table 1). Q : Explain Performance Measurement Performance Measurement: A means of computing effectiveness, efficiency, and outcomes. A balanced performance measurement score-card comprises financial and non-financial measures focusing on the quality, cycle-time, and price. The performance measure
Performance Measurement: A means of computing effectiveness, efficiency, and outcomes. A balanced performance measurement score-card comprises financial and non-financial measures focusing on the quality, cycle-time, and price. The performance measure
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.
Liability of partners: A) Under contract law: Liability is joint only (collectively); The creditor has only one right of action (except in NSW, where liability is now joint and several).
How to make a VAT entry in books including set off?
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