Define Common Cost
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.
What do you mean by the term reaping the benefits of IT? Explain n brief?
Cost Driver: Any factor which causes a modification in the cost of an action or output. For illustration, the quality of portions received by an activity, or the degree of complexity of tax returns to be evaluated by the IRS.
1) Dissolution ENDS the partnership. a) Action of the parties: • By the expiration of a fixed term;• If entered
The first section of the statement of cash-flow. Cash flows from operating activities include transactions (involving cash) that relate to the normal busi- ness activities of the entity. Cash-flows in this section usually involve cash and other current asset or curren
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
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.
From the books of Aggarwal Bors, the following information have been extracted: Rs. Sales 2,40,000 Variable costs 1,44,000 Fixed costs 26,000 Profit before tax 70,000 Rate of tax 40% The firm is proposing to buy a new plant which can generate additional annual profit of Rs. 10,000. The fixed
In the deficiency of a partnership deed, how are mutual relations of partners managed? Answer: In the absence of Partnership deed, the mutual relations are managed b
Explain the term fixed capital of partners? Answer: Partners' capital is state to be fixed if the capital of Partners remains unchanged except in the situation where
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