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Explain variable cost and fixed cost
Variable costs: costs that vary almost in the direct proportion to the volume of production are known as variable costs. The examples of such costs are direct material, direct labour and indirect chargeable expenses, such as electric power, fuel etc.
Fixed costs: costs which do not vary with the level of production are called as fixed costs. These costs are called fixed because these remain constant irrespective of the level of output. It must, though, be noted that fixed costs do not remain constant for all times. In fact, it in the long run all costs have a tendency to vary. Fixed costs remain fixed up to a certain level of production.
Consortium Lending: As the financial needs of a single unit are more than a single bank can cater to, then more than one bank comes together to finance the unit jointly spreading
You recently began a job as an accounting intern at Indoor Racing Ltd. Your first task was to help prepare the cash budget for February and March. Unfortunately, the computer with
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identify and explain the many classification of costs for planning, control,performance evaluation and decision making.
Strengths and weakness of net book value and pay back method
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Explain the Objectives of management accounting? 1. Planning and policy formulation: the object of management accounting is to supply necessary data to the management for fo
Classification of ratio according to significance The ratios have also been classified according to their significance. Some ratios are more important than other and the fir
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