Define Actual Cost
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
What do you mean by the term Comparability which is accounting information?
Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.
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
What are Arrears? And what are the conditions to make Arrears?
Write some main features of partnership? Answer: Essential elements or major features of Partnership are as follows: A) Two or m
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.
Refer to the below data. A budget surplus occurred in year: A) 2. B) 3. C) 4. D) 6. Provide solution of th
What is Uncontrollable Cost: The cost over which an accountable manager has no persuade.
Normal 0
1) Dissolution ENDS the partnership. a) Action of the parties: • By the expiration of a fixed term;• If entered
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