Define Opportunity Cost
Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.
Describe Provisional Entries?
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Meaning of Reconstitution: Any alter in agreement of partnership is termed as reconstitution of partnership firm. In following circumstances a partnership firm might be reconstituted: A) Alter in Profit Sharing Rat
What do you mean by the term balancing risk and return? Explain in brief?
What do you mean by the term key performance indicators or KPI? Explain in brief?
What are various methods to assign support cost?
The rights of each partner: Under the Partnership Act, partners have the right to: Share equally in profits and losses; Indemnity; Interest on advances; Interest on capital; Share in management of
Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.
Write a brief note on the things which Opportunities comprises?
List the items that might appear on the debit side and credit side of a partner's fluctuating capital account. Answer: On debit side: Drawing, interest on drawing, c
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