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.
According to Martin and Steele (2010, p.13), “The two principal professional associations in Australia – CPA Australia (the CPA) and the Institute of Chartered Accountants in Australia (the Institute) have indicated their awareness of the significance of issues of sustainability reporting and develo
Describe fluctuating capital of partners? Answer: Partner‘s capital is stated to be fluctuating if capital modifies with every transaction in the capital accou
Differential Cost: The cost difference predicted when one course of action is adopted rather than others.
Partnership: Whenever two or more persons enter into an agreement to take on business and share its gain and losses, it is a condition of partnership. It can also define as: "Partnership is the relation among persons and who have granted to share the
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.
1. Contribution After Marketing Assume that the sales forecast for brand TOJO is 160,000 units, and that you expect to sell 50% of these units through mass merchandisers,
An income statement item that represents the difference between the actual cash amount and an accounting measure of how much cash there should be. The most common example exists in a retail situation where the cash in the cash register is compared to the register tape
The DU Inn The DU Inn is an 80-room hotel located on some mountaintop in Colorado. That has no bar or restaurant &is positioned as a mid-priced, good quality "homey" hotel. It is open only during
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
A partnership is stated as ‘the relationship which subsists among persons carrying on business in common with a view togain or profit’
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