Relevance-accounting information
What do you mean by the term relevance which is accounting information?
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Relevance: Management accounting information should have the capability to affect decisions. Unless this feature is present, there is really no point in generating the information. This signifies that the information must be targeted at the needs of the individual manager for whom it is being offered.
Describe fluctuating capital of partners? Answer: Partner‘s capital is stated to be fluctuating if capital modifies with every transaction in the capital accou
A financial analysis tools that measures the need for financing. The formula is the cash-flow from operating activities divided by the cash paid for long-term asset. Cash paid for long-term assets can be found on the statement of cash-flow, in the investing-activities
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A type of personal tax credit that reduces the amount a taxpayer must pay. The child tax credit is $1,000 (in 2008) for each child meeting the criteria the child must be a U.S. National, citizen, or resident under 17, a dependent of the taxpayer, and a grandchil
What do you mean by the term Mission statements? Briefly describe it.
How have you observed the regulations which affect both your industry and your accounting place?
Why you want to be an accountant? Normal 0 false
Common Cost: It is the cost of resources used jointly in the production of two or more outputs and the cost can’t be directly traced to any one of those outcomes.
Describe the provision of 'Indian partnership Act 1932‘concerning sharing of profits in lack of any provision in partnership deed. Answer: In the lack of any p
Indirect Cost: A cost which can’t be recognized particularly with or traced to a specified cost object in an economically feasible manner.
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