Define Cost
Cost: The monetary value of resources employed or liabilities or sacrificed incurred to attain an objective, such as to obtain or make a good or to execute an activity or service.
Differential Cost: The cost difference predicted when one course of action is adopted rather than others.
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.
1) Dissolution ENDS the partnership. a) Action of the parties: • By the expiration of a fixed term;• If entered
Standard Costing: A costing technique which joins costs to cost objects based on reasonable approximations or cost studies and by the means of budgeted rates instead of according to actual costs incurred. The predictable cost of gener
What are Aging of Accounts? Briefly illustrate it.
Job Costing: It is an order-specific costing method, utilized in situations where each job is distinct and is executed to the customer's specifications. Job costing includes keeping an account of direct and in-direct costs. Q : Management accounting-scope Write down Write down the scope of Management accounting?
Write down the scope of Management accounting?
Describe fluctuating capital of partners? Answer: Partner‘s capital is stated to be fluctuating if capital modifies with every transaction in the capital accou
ACCOUNTING CONCEPTS: Presented below are basic accounting principles or concepts, with which hospital managers should be familiar and that they should understand i
Write down a short note on the major tasks of board that runs the organization?
18,76,764
1958393 Asked
3,689
Active Tutors
1460663
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!