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.
Partnership deed: Partnership deed is a written agreement including the terms and conditions agreed by all the Partners.
Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.
Why you want to be an accountant? Normal 0 false
Differential Cost: The cost difference predicted when one course of action is adopted rather than others.
Briefly illustrate the general role of accounting?
Cost Assignment: A procedure which identifies costs with activities, outputs, or another cost objects. In a wide sense, costs can be assigned to activities, processes, products, organizational divisions, and services. There are three
Outcome: The outcomes of a program activity as compared to its intended aims. Program outcomes might be computed in terms of service or product quality and quantity, customer satisfaction, and usefulness.
Write a short note on the main working areas of the Finance department?
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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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