Reliability-Accounting information
What do you mean by the term Reliability which is accounting information?
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Reliability: Management accounting must be free from noteworthy errors or bias. This must be capable of being relied on by managers to symbolize what it is supposed to stand for. Although both relevance and reliability are mush significant, the problem that we seldom face in accounting is that information which is highly relevant might not be much dependable and that that is reliable might not be much relevant.
In the deficiency of a partnership deed, how are mutual relations of partners managed? Answer: In the absence of Partnership deed, the mutual relations are managed b
Job Costing: It is an order-specific costing method, utilized in situations where each job is distinct and is executed to the customer's specifications. Job costing includes keeping an account of direct and in-direct costs. Q : Calls in Arrears What are the various What are the various Calls in Arrears? Describe it.
What are the various Calls in Arrears? Describe it.
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
What do you mean by the term Mission statements? Briefly describe it.
Product: Any traceable, discrete, or measurable good or service given to a customer. Frequently goods are termed to as tangible products, and services are termed to as intangible products. A good or service is the product result of a procedure resulta
A financial analysis tools that measures the need for financing. The formula is the cash-flow from operating activities divided by the cash paid for long-term asset. Cash paid for long-term assets can be found on the statement of cash-flow, in the investing-activities
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Describe the status of partnership from an accounting point of view? Answer: From an accounting point of view, partnership is a separate business entity. From legal
Activity-Based Costing: It is a cost accounting process that measures the cost and performance of process related activities and cost objects. It assigns cost to cost objects, like products or customers, based on their utilization of
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