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Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
Fixed Cost: The cost which does not differ in the short term with the volume of action. Fixed cost information is helpful for cost savings by regulating existing capacity, or by removing idle facilities. Also termed as Non-Variable Cost or the Constan
What are the various features of the management accounting information system?
Briefly illustrate the general role of accounting?
Describe the provision of 'Indian partnership Act 1932‘concerning sharing of profits in lack of any provision in partnership deed. Answer: In the lack of any p
The operating level at which the total sales revenue equals the total cost. Total sale revenue is equal to the price per unit times the number of units sold. Total cost equals total variable cost, the number of units sold in time the variable cost per unit and the tot
Why most of the larger businesses are not managed as the single unit through one manager?
explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating
What are Arrears? And what are the conditions to make Arrears?
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
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