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Q. What is Variable cost?
Variable cost -- a cost which changes as production or sales change. If a business is producingnothing and selling nothing, variable cost must be zero. Though there will probably befixed costs.
Q. What do you mean by single proprietorship? A single proprietorship is a non incorporated business owned by an individual and often managed by that same person. Single propri
what would be the entry for-"rent recieved in advance"
Account titles and explanation column The first row of an entry shows the account debited. The second row shows the account credited. Notice that we notch the credit account t
A baker makes 500 cream-filled eclairs at a cost of $0.72 each. He estimates that 10% of the eclairs will be sold the following day at a reduced price of $0.80 each. Find the mar
Q. Define Expenses in terms of accounting? Expenses are outflows or else other using up of assets or incurrence of liabilities (or a combination of both) from rendering service
TYPES OF FINANCIAL ANALYSIS a) According to the material used, the study can be - i) External analysis : Where analysis is done by exterior interested parties and ii)
Determine the proposal's appropriateness and economic viability. For all scenarios, assume spending occurs on the first day of each year and benefits or savings occurs on the las
Preparing financial statements for a merchandising business (The statements are completed in this order.) 1. Income Statement (contains only expenses and revenue and show
o depreciation on the building has been recorded in 2016. Depreciation on the building is based on Double-Declining Balance. It was purchased on 1/1/15 and has an estimated useful
Q. Accounting systems from manual to computerized? The manual accounting system with merely one general journal and one general ledger has been in use for hundreds of years and
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