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.
Cost Object (also referred to as Cost Objective): It is an activity, item, or output whose cost is to be computed. In a wide sense, a cost object can be an organizational division, task, a function, product, service, or a customer.
How have you observed the regulations which affect both your industry and your accounting place?
Full Cost: The sum of all costs needed by a cost object comprising the costs of activities executed by other entities in spite of of funding sources.
The final payment in a partially amortized loan. The balloon payment repay the entire remaining principal and is usually larger than previous payments on the loan. Loan that is set up with balloon payments allow the borrower to make the purchase and have a lower payme
Write down a short note on the Performance evaluation and control in decision making process?
Why does a tax form a deadweight loss? A tax forms deadweight loss by artificially increasing price above the free market level, therefore reducing the equilibrium quantity. This reduction in demand decreases consumer as well as producer surplu
A function of measuring and assigning production costs to determine the unit cost. Actual revenue assigns the real cost of materials, labor, and overhead to ma
discuss the limitations of human relations approaches to management
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Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.
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