What is Service
What do you mean by Service: It is an intangible product or task rendered directly to a client or customer.
Differential Cost: The cost difference predicted when one course of action is adopted rather than others.
Cost: The monetary value of resources employed or liabilities or sacrificed incurred to attain an objective, such as to obtain or make a good or to execute an activity or service.
Give a brief introduction of the term ‘Management Accounting’. And also write down its objectives?
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.
What does the difference between management accounting and financial accounting suggest?
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
discuss the limitations of human relations approaches to management
An account used in a partnership to record an individual partner's investment in the partnership plus the indi- vidual's share of any undistributed partnership income. In a corpo- ration, the equity sections have two parts: the contributed capital and retained earning
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.
Write a brief note on the things which Opportunities comprises?
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