Comparability-Accounting information
What do you mean by the term Comparability which is accounting information?
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Comparability: This quality will allow managers to recognize changes in the business over time. This will as well help them to compute the performance of the business in relation to other identical businesses. Comparability is accomplished by treating items which are fundamentally the same in similar way for management accounting aims. Comparability tends as well to be improved by making clear the policies which have been adopted in measuring and representing the information.
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 o
Outputs: Any product or service formed from the consumption of resources. This can comprise information or paper work produced by the completion of the tasks of an activity.
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1) Dissolution ENDS the partnership. a) Action of the parties: • By the expiration of a fixed term;• If entered
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What do you understand by the terms partners, firm and firms name? Answer: The persons who have entered into a Partnership with each other are individually termed 'P
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