Profit in business is a financial gain earned when marginal revenue exceeds marginal cost to produce a particular product or provide a service. Basically profit is the amount of money left after a business has paid all cost associated with doing business for a certain period of time from the total revenue taken in during that same period of time. All for profit business want to maximize their profits. Without making a profit a business cannot stay open without additional investment by the business
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MARGINAL COSTING AS A COSTING SYSTEM Marginal Costing is a type of flexible standard costing that separates fixed costs from proportional costs in relation to the output quantity of the objects. In particular‚ Marginal Costing is a comprehensive and sophisticated method of planning and monitoring costs based on resource drivers. Selecting the resource drivers and separating the costs into fixed and proportional components ensures that cost fluctuations caused by changes in operating levels‚ as
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What would you do if you won 1 000 000 $ Why people want to be a rich man? What is does rich mean? In what do people see the richness? (Where do people find richness?) And how can people become rich? Some people thinks and wants to be rich‚ because they love money‚ they want expencive (espensive‚ costly) possessions such as: things‚ cars‚ great homes and ect. Some ones want to be a rich‚ because they love contribute‚ to help someone‚ poors‚ olds‚ who has need. Some ones consider
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Marginal and absorption costing Topic list 1 Marginal cost and marginal costing 2 The principles of marginal costing 3 Marginal costing and absorption costing and the calculation of profit 4 Reconciling profits 5 Marginal costing versus absorption costing Syllabus reference D4 (a) D4 (a) D4 (b)‚ (c) D4 (d) D4 (e) Introduction This chapter defines marginal costing and compares it with absorption costing. Whereas absorption costing recognises fixed costs (usually fixed production costs) as
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out of 5 points Economic profit is defined as the difference between revenue and ____. Answer Selected Answer: total economic cost Correct Answer: total economic cost Question 2 5 out of 5 points Recently‚ the American Medical Association changed its recommendations on the frequency of pap-smear exams for women. The new frequency recommendation was designed to address the family histories of the patients. The optimal frequency should be where the marginal benefit of an additional pap-test:
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Julian S. BSCS-CS I-1 What Would You Do No.4 You are the CFO of a sporting goods manufacturer and distributor. Your firm has annual sales exceeding $500 million‚ with roughly 25 percent of your sales coming from online purchases. Today your firm’s Web site was not operational for about an hour. The IT group informed you that the site was the target of a distributed denial-of-service attack. You are shocked by an anonymous call later in the day in which a man tells you that your site will be attacked
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average variable cost is a. at the same level of output as the minimum average total cost b. at a smaller level of output than the minimum average total cost c. at a larger level of output than the minimum average total cost d. at the same level of output as the average fixed costs e. same as minimum marginal cost 2. The multiplant monopolist maximises profits when a. Marginal cost equals marginal revenue b. When marginal cost in each plant are equal c. When average cost in each plant
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In “Diversity Challenges-What Would You Do?” (Learning Communications‚ 2009)‚ an organization interviewed prospective employee Felix. While Felix immediately hit it off with the human resources associate‚ it soon became apparent that he was not accustomed to the level of diversity in the organization. His overt shock and multicultural leadership in addition to his nonverbal response to various other diversity characteristics present in the workforce indicated that Felix had an issue with working
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kitchen duty. From Lean In: What Would You Do If You Weren’t Afraid? Sheryl Sandberg stated “I aspire to a leadership role in whatever field I ultimately work‚” she describes what her goal is as a women but millennial‚ women were also less likely than their male peers to characterized themselves as leaders‚ visionaries‚ self-confident‚ and willing to take risks. Women are not given fair pay and rights. Like‚ both genders can complete the same activity but because “you are a girl” guys receive the
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In December of 1777 to 1778 George Washington made a camp called Valley Forge‚ it was 18 miles outside of Philadelphia. Valley Forge wasn’t the best place for you to live it was very hard‚ but the sacrifices were worth it. If you were in Washington’s army would you quit? I wouldn’t quit Washington’s army because it says that there is a high chance to get sick but a low chance to actually die from sickness‚ also Washington is getting supplies from the Congressman because the supplies are low‚ Dr.
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