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Omission to do something which a reasonable man, guided by those ordinary considerations that ordinarily regulate human affairs, would do or doing of something that a reasonable and prudent man wouldn't do. Negligence is the failure to use such care as areasonably prudent and careful person will use under similar circumstances; it's the doing of some act that a person of ordinary prudence wouldn't have done under similar circumstances or failure to do what a person of ordinary prudence would have done under similar circumstances.
The term denotes only to that legal delinquency that results whenever a man fails to exhibit the care which he ought to exhibit, whether it be slight, ordinary or great. It's characterized chiefly by inadvertence, thoughtlessness, inattention, and like, while ‘wantonness' or ‘recklessness' is characterized by wilfulness. Law of negligence is founded on reasonable conduct or reasonable care under all circumstances of particular care. Doctrine of negligence rests on duty of each person to exercise due care in his conduct toward others from which injury may result.
It is a managerial accounting cost method of expensing all costs related with producing a particular product. Absorption costing utilizes the total direct costs and overhead costs
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Recognition of PPE
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RECEIVERSHIPS: APPOINTMENT OF RECEIVER If a company defaults in payment of principal or interest, or otherwise defaults in observing the conditions contained in debentures issu
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What is the implications of applying accounting concepts wrongly?
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Q. Show the nature of business operations? The nature of business operations that influences the proportion of fixed costs to total costs. Capital intensive business operations
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