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Total profit means the total revenue excluding the total cost of the certain products.
Average profit defines the profit which comes and achieved after selling each unit. Total revenue/quantity is average profit.
Marginal profit defines the extra profit which an organization achieves.
Marginal profit is change in total revenue/change in quantity.
Incrementalism defines the doings and aim which takes little time but it is done in small small steps.
Marginalism defines the additional usage and extra benefit which one has achieved from his incremental changes. It is a very powerful technique to deal with the problems.
Your client has asked you to provide guidance on the following potential accounting changes: (1) Change from straight-line method of depreciation to sum-of-the-years'-digits (2) Ch
I would like to know the solution on this one.
Distinguish between, (i) short-run variable costs & long-run variable costs, and give an example of each one; (ii) the marginal cost & the average cost of production
Q. A firm's total cost function is given by TC = 2Q 2 + 10. What are the firm's fixed cost, variable cost, average fixed cost, average variable cost, and marginal cost functions?
Your company completed the site work for the South Pointe office complex. The costs are shown in Figure 11-3. The site concrete labor and landscaping were done by subcontractors. T
Methods Required To Allocate Joint Costs 1) Physical/Unit Measure 2) Constant gross margin rate 3) Net realizable value.
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Explanations on the correct fixation of selling price
What is bad debt expense, using the aging method (also called the "percentage of receivables" method), given the following set of facts? A firm has $80 of gross accounts recei
DEFINITION OF BUDGET As per the Institute of Cost & Management (ICMA), London, a BUDGET is 'a quantitative statement and / or financial, prepared and approved prior to a defin
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