Provisional Entries
Describe Provisional Entries?
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Provision entries are the entries which are made to account for expenses which have not been accounted in the period for which it associates. Therefore debiting the expenses and crediting the party account or liability account forms the provision.
describe how costs can be classified giving examples in each classification. explain how the different cost classifications can assist management in decision making
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
ACCOUNTING PROCESS: The process of Accounting involves the following steps: Q : Explain Cost Allocation Cost Allocation Cost Allocation: This is a technique of assigning costs to activities, outputs, or other cost objects. The allocation base employed to assign a cost to objects is not essentially the cause of the cost. For illustration, assigning the
Cost Allocation: This is a technique of assigning costs to activities, outputs, or other cost objects. The allocation base employed to assign a cost to objects is not essentially the cause of the cost. For illustration, assigning the
What are the various Calls in Arrears? Describe it.
What do you mean by the term Understandability which is accounting information?
What are the key qualities or characteristics which accounting information should possess?
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What is Uncontrollable Cost: The cost over which an accountable manager has no persuade.
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.
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