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.
How have you observed the regulations which affect both your industry and your accounting place?
Give circumstances in which the fixed capital of partners might change. Answer: Two circumstances in which the fixed capital of Partners might change are as follows:
Write down a short note on the major tasks of board that runs the organization?
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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.
under gantt's bonus plan, no bonus is payable to the worker if is effeciency is less than how much?
Briefly define how useful is the management accounting information is?
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.
Write a short note on the relationship between risk and return?
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