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Accounting Cycle is the name given to the combined process of recording and processing the accounting proceedings of a company. The series of steps start when a transaction takes place and end with its addition in the financial statements. The 9 events of the accounting cycle are:
Q. Show the Pricing during market growth? Pricing during market growth: in the growth stage there is steep rise in the turnover of the company. As prices of new competitors
State Direct material cost standard The determination of direct material cost standard would involve: a) Determination of quantity standards and b) Determination of pric
M/s ABC has an existing sales of Rs.50 lakhs and permits a credit period of 30 days to its customers. The firm cost of capital is 10% and the ratio of variable cost to sales is 85
Disadvantages of standard costing 1) Difficulty in setting standards: setting of standards in practice extremely difficult and complicated task. First it is not possible to f
In the documentary bills the seller faces a lot of risk as the risk of non-acceptance or non-payment of goods. This poses a main risk for the seller. These additional securities in
Yolande Tzar came to Northern Ireland from Poland five years ago to study at university. After graduating she worked as a sales manager for a local company and saved her wages to b
Chicken and Hawk (dove game) Two players meet at a one-lane bridge and each must choose whether to cross first or wait for the other. If both play Tough (T), they crash in the
State the price determination under the market condition The price determination under the following market condition is as follows: 1) Pure competition: in this situation
State Material price variance Difference among standard price and the actual price of the material is the material price variance. This variance arises because of various facto
Gardner Manufacturing Company produces a product that sells for $120. A selling commission of 10% of the selling price is paid on each unit sold. Variable manufacturing costs are $
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