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Decision-making is an integral part of all management functions. It is the process of choosing the among alternative courses of action. Managers have to
Steps making DecisionTree A decision tree is a graphical representation of decision process indicating decision alternatives, states of nature, related probabilities and condit
Explain the Cost accounting: Meaning and definition: Cost accounting is the process of accounting for cost which begins with the incurrence of cost and ends with th
Batch size of one Set up time is the amount of time needed to adjust tools and to retool for various product. Long set ups a change over time make the production of batches wit
Characteristics of irrelevant costs
A manufacturing company needs 2500 units of a particular component every year. The company buys it at the rate of Rs. 30 per unit. The order processing cost for this part
Risk : Risk includes circumstances or events that may or may not take place though whose probability of occurrence can be predicted from the past records. In this atmosphere, t
Classification and computation of variances The computation and analysis of variances is the main aim of standard costing. The variance is the difference among the standard pe
I am part of a marketing group, and we are working on a project for a local cable company,they currently serve 3,200 customers and sell 50 wireless boxes a month,what I need to do
DOMINANCE Dominance strategy is useful for reducing the size of the payoff table. Rules of Dominance: 1) If all the elements in a column are greater than or equal to the
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