What is Direct Cost
Direct Cost: The cost of resources directly used by an activity. The direct costs are assigned to actions by direct drawing of units of resources used by individual actions. A cost which is particularly recognized with a single cost object.
Operating Budgets: It is a financial document which aids a business in making significant decisions regarding its actions. An operating budget does not contain instant impact on the actual state of the business and exhibits only future projections. Bu
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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Variable Cost: A cost which differs with changes in the level of an activity, whenever the other factors are held constant. The cost of material treating to an activity, for illustration, differs according to the number of material de
Why does a tax form a deadweight loss? A tax forms deadweight loss by artificially increasing price above the free market level, therefore reducing the equilibrium quantity. This reduction in demand decreases consumer as well as producer surplu
Meaning of Reconstitution: Any alter in agreement of partnership is termed as reconstitution of partnership firm. In following circumstances a partnership firm might be reconstituted: A) Alter in Profit Sharing Rat
Write a short note on the main working areas of the Finance department?
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.
describe how costs can be classified giving examples in each classification. explain how the different cost classifications can assist management in decision making
Corporate Tax: It is a levy placed on the gain of a firm, with different rates employed for various levels of gains. Corporate taxes are the taxes against profits earned by businesses throughout a given taxable period; they are usually applied to comp
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