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Q. Define the Opportunity cost?
Opportunity cost -- a useful notion in evaluating alternate opportunities. If you choosealternative A, you can't choose B, C, or D. What is the cost or loss of profit of not choosingB, C, or D? This cost or loss of profit is opportunity cost of alternative A. In personal lifeyou can buy a car rather than taking a European vacation. Opportunity cost of buying thecar is the loss of the enjoyment of the vacation.
UOIT has recently appointed you to prepare an independent consulting report to analyze the university's current financial position and to provide some recommendations for improve
How do you do journal entries for an item bought on credit and then later returned and the total selling price was 4,275.
Q. Explain about trade discount? A trade discount is a percentage deduction or else discount from the specified list price or catalogue price of merchandise. Companies utilize
1. Carmen Santiago works for a number of businesses as a “consultant.” She has helped design accounting systems, provided accounting services, and analyzed the financial s
Harry and Sally were divorced three years ago. In July of the current year, their son, Joe, broke his arm falling out of a tree. Joe lives with Sally and Sally claims him as a de
Jackson Corporation uses a standard cost system, concerned manufacturing overhead on the basis of machine hours. The company's overhead standards per unit are given below. Varia
Assume in Balance sheet Furniture is given @ rs.1200000. and an adjustment tells that half of the building is used for residential purpose... then what is treatment in accounts?
Q. Consistency in accounting principle? Consistency necessitates that a company use the same accounting principles and reporting practices through time. Consistency makes possi
Q. Explain cash basis of accounting? Professionals such as lawyers and physicians and some relatively small businesses may account for their revenues and expenses on a cash bas
I need help with transaction 4
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