• Geography
    opportunity cost? Q3: Define an Economy. Q4 What is market economy? Q5: What is a planned economy? Q6: Give two examples of Micro economic studies. Q7: Define macro economics. Q8 How is production possibility curve affected by unemployment in the economy? Explain. Q9: explain how a production...
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  • Accounting for Management
    accounting cycle include: Journal, Ledger, Debit, Credit, Normal Balance, Posting, Temporary account, permanent account, Contra account, Adjusting entry, Book value, Trial balance, Pre-closing trial balance, Closing entry, Post- closing trial balance, Reversing entry. 5. Give Four examples of intangible asset...
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  • Economics Week 2 Team
    that comes with a cost. Economic profit= total revenue - total cost. If increasing production and output to make profit, business owners must take into consideration the increase in cost to produce more products. Another approach to maximizing profits would be to eliminate cost through decreasing...
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  • How Choice Arises in Economics
    refers to a market situation in which there is a single seller and there is no close substitute of the commodity sold by the monopolist. Q 6)Explain how scarcity and choice go together? 3 Marks ANS- Resources refer to all the factors of production. Scarcity means that resources which produce...
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  • Headgear Inc
    18-2 Full Versus Variable Costing and Ethical Issues HeadGear, Inc is a small manufacturer of headphones for use in commercial and personal applications. The HeadGear headphones are known for their outstanding sound quality and light weight, which makes them highly desirable especially in the commercial...
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  • Mba 1 Sem ( Smu) Finacial Management Set 1-2
    Semester 1 MB0041 – Financial & Management Accounting (Book ID: B1624) Assignment Set - 1 Submitted By: Akhilesh Kumar Kandwal ID: Q1. Explain the process involved in accounting. Ans. As implied earlier, today's electronic accounting systems tend to obscure the traditional forms of the accounting...
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  • Introduction to Managerial Accounting Midterm Study Guide
    studying you were otherwise doing. Chapter 7 Under variable costing, only those manufacturing costs that vary with production quantity (output) are included as product costs. This would typically include direct materials, direct labor, and the variable portion of manufacturing overhead (V-MOH). Unlike...
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  • Absorption and Variable Costing
    CHAPTER 8 ABSORPTION AND VARIABLE COSTING Learning Objectives 1. Explain the accounting treatment of fixed manufacturing overhead under absorption and variable costing. 2. Prepare an income statement under absorption costing. 3. Prepare an income statement under variable costing. 4. Reconcile...
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  • Corporate Finance Essay
    are having a dress shop, indicate the proper classification of cost behavior whether it is VARIABLE or FIXED for each of the following items below: |Cost Element |Cost Behavior | |Material...
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  • Gco Level Economics Question Bank
    the price in order to increase their revenue in this business. A clear route to O’level success in Economics – First Edition- By Alim 3 6. Explain what is meant by price elasticity of demand and use this concept to discuss what might happen in the market for oil if the price of oil was raised...
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  • Course Description
    Description This course applies economic concepts to make management decisions. Students employ the concepts of scarce resources and opportunity costs to perform economic analysis. Other topics include supply and demand, profit maximization, market structure, macroeconomic measurement, money, trade...
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  • Accounting for Managers. Test
    marks) Answer ANY TEN Questions. Each question carries 2 marks 1. Define Accounting. 2. Explain accounting cycle. 3. What are current assets? 4. What is net working capital? 5. What Trial Balance? 6. State any two advantages of fund flow statement. 7. Define costing? 8. Write a...
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  • Love
    AFM06 MBA/MSc. MOCK TCA Questions & Answers Examination Question/Task 1 This is a Balance Sheet and P&L account for two years of trading for Tardis Ltd. You are required to answer the multiple choice questions below based on analysis of this data. (10 qu, each worth 2 mks) | Profit & Loss Account...
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  • Budgeting
    Different budgets include: sales or fees budget; operating expenses budget; production and inventory budgets; budgeted income; cash budget; budgeted balance sheet; and the capital budget. P9.7 Preparation of receipts from debtors schedule and cash budget Ken Martin, manager of Lonnie Car Repairers...
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  • Managerial Accounting Sample Exam
    ID # I. 15 Points 1. Otis Corp. has the following data: Selling price $50/unit Variable manufacturing costs $20/unit Fixed costs: Manufacturing $100,000 Selling and admin. $ 50,000 a.(3 points) The breakeven point is: ...
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  • Cost- Principles of Accounting
    What Does Historical Cost Mean? A measure of value used in accounting in which the price of an asset on the balance sheet is based on its nominal or original cost when it was acquired by the company. The historical-cost method is used for assets in the United States under generally accepted accounting...
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  • Finance in Hospitality Management
    start a business and ramp it up to profitability. There are several sources to consider when looking for start-up financing. But first you need to consider how much money you need and when you will need it. The financial needs of a business will vary according to the type and size of the business. For example...
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  • Naveen
    ECONOMICS AND FINANCIAL ANALYSIS Course Objective 1. | TO KNOW DEMAND & HOW TO ANALYSIS DEMAND. | 2. | TO UNDERSTAND THE DIFFERENT METHODS OF FORECASTING DEMAND. | 3. | TO KNOW DIFFERENT TYPES OF COSTS & IT”SRELATIONSHIP WITH OUTPUT. | 4. | TO ANALYSE TYPES OF MARKETS &...
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  • Financial Statements
    2 3. The difference between average and marginal tax rates. Ch2. NPPT Section 2.3 4. How to determine a firm’s cash flow from its financial statements. Ch.2 NPPT 2.4 2.1 The Balance Sheet * Balance sheet: is a snapshot of the firm at a given point in time * Organizes and summaries what...
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  • Full and Variable Costing
    MANAGERIAL ACCOUNTING FULL AND VARIABLE COSTING TRADITIONAL COSTING Instructor: Dr. George Drymiotes Management Accounting • • • Focus on two seemingly simple questions: How much will it cost? Did it cost too much? • • Today, we will take the first step towards that direction. Focus...
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