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These should be distinguished from estimated liabilities. Estimated liabilities are identified liabilities where the amount is uncertain. Contingent liabilities conversely are not
Distinction between Absorption and Marginal Costing These are two approaches of arriving at the cost of production or total profit for a specified period. The major difference
Define the concept of opportunity cost in your own words. Given an example from your own life of the opportunity cost of a decision (do NOT use classroom examples). Explain why o
Bases of Cost Classification These various bases of cost classification are summarized in the diagram underneath as: Here, we will usually refer to either of these ter
A statement of changes in working capital assists us in locating where such changes took place. In the first example we try to demonstrate the increase or decrease in particular it
why is there a need for cost accounting?
Introduction of Internal Rate of Return The traditional internal rate of return (IRR) method of project selection has been shown to be inferior to the NPV method due to vario
equity ratio?
I need an explanation of how a bin card is done
Goldman Corporation bought a machine on June 1, 2010, for $44,838, f.o.b. the place of manufacture. Freight to the point where it was set up was $282, and $705 was expended to inst
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