Define Expense
Expense: The Outflow or other using up of resources or acquiring liabilities (or a combination of both), the advantages from which exert to an entity's operations for the present accounting period, however they do not expand to future periods.
Write a short note on Not-for-profit organizations?
What is Uncontrollable Cost: The cost over which an accountable manager has no persuade.
Cost Avoidance: The action taken to decrease future costs, like replacing parts before they fail and cause harm to other portions. Cost avoidance might incur higher (or extra) costs in the short run however the final or life-cycle cost would be lower.
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
Briefly describe the main purpose of the business?
describe how costs can be classified giving examples in each classification. explain how the different cost classifications can assist management in decision making
Identify and evaluate the strategic options in brief?
How have you observed the regulations which affect both your industry and your accounting place?
Normal 0
A) A partnership may be formed either expressly or impliedly, and in each case all the circumstances should be examined in order to ascertain: The intention of the parties; Whether there has been a
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