Why wealth creation is a longer-term concept
Write a short note on why wealth creation is a longer-term concept?
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At mainly relates not just to this year’s gain however to that of future years also. In short term, corners can be cut and risks taken which enhance present gain at the expense of future gain.
Write some main features of partnership? Answer: Essential elements or major features of Partnership are as follows: A) Two or m
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
Describe fluctuating capital of partners? Answer: Partner‘s capital is stated to be fluctuating if capital modifies with every transaction in the capital accou
What is Uncontrollable Cost: The cost over which an accountable manager has no persuade.
Responsibility Center: It is an organizational unit headed by the manager or a group of managers who are responsible for its actions. The responsibility centers can be measured as revenue centers (that is responsible for revenue or sa
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 first section of the statement of cash-flow. Cash flows from operating activities include transactions (involving cash) that relate to the normal busi- ness activities of the entity. Cash-flows in this section usually involve cash and other current asset or curren
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.
What do you mean by Service: It is an intangible product or task rendered directly to a client or customer.
What do you mean by the term Reliability which is accounting information?
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