effectively through direct personal experience via the actual information from the manufacturers. ii) To focus attention on the learning process by delivering and exchanging information among the members of the group. iii) To promote translation of accounting theory into specific and meaningful experience. iv) To cultivate students to organise themselves‚ interdependent among the group members and communicate with one and another. v) To encourage students to experience lifelong learning and to practice
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Principle of increasing marginal costs: after a certain point‚ each additional unit a seller produces costs more to produce than earlier units. Copyright © 2012 Pearson Education‚ Inc. All rights reserved. Supply and Demand Curves • Supply curve: A line on a graph indicating the quantity of a product sellers would provide for each price at which it might be selling; the supply curve also can be understood as showing the price sellers must charge to cover the average costs of supplying a given amount
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determine and calculate product cost. The income statements formats of both methods include period and product costs. However‚ each one has a different cost classification definition. Both have the same direct material and direct labor allocation‚ the differences is how they report the income‚ product‚ and pricing One of the main differences between the two methods is the accounting for the fixed manufacturing costs. In variable costing‚ fixed manufacturing costs are looked at as expenses of
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Globalization- worldwide integration & development; extending to other or all parts of the world Euro Benefits * Low interest rates due to a high degree of price stability * More price transparency * Removal of transaction costs * No exchange rate fluctuations Disadvantages * Lack of strong Federal government * Two speed economies * To raise or lower interest rates * Abolished independent monetary policies (being able to slash interest rates & devaluing
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E2-1‚ 2‚5‚7; P2-2A‚ 4A E2-1. The following are the major balance sheet classifications: Current assets (CA Long-term investments (LTI) Property‚ plant and equipment (PPE) Intangible assets (IA) Current liabilities (CL) Long-term liabilities (LTL) Stockholders’ equity (SE) Classify each of the following financial statement items taken from Mordica Corporation’s balance sheet. CL Accounts payable CA Accounts receivable PPE Accounts depreciation-equipment PPE Buildings CA Cash CL Interest
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Only infrequently are slopes of concentration vs time curves taken to determine dc/dt directly (fig. 1). concentration [mol] time (s) the instantaneous reaction rate (initial rate) is given by the slope of the curve at t = 0‚ (Δc / Δt) Δc Δt 0 1 2 4 rate at t = 2 is given by the tangent to the curve (Δc / Δt) at t = 2 Rate of decay of reactant A Rate of formation of product B Figure 1 Variation with time of the concentration of a reactant (A) and of a product
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business. Also under UPA 202(c)(3) no presumption of partnership is made since the profits are wages of an employee or for the services of an independent contractor. Not to mention Daniel did not have any knowledge of the credit extended to Rubya. 17-4. The relationship between sole proprietor and sole proprietorship is that the sole proprietor assumes complete ownership of the sole proprietorship. The owner is the business. The proprietor reports income as personal income‚ is personally liable for
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Contract costing is a system of job costing that is applied to relatively large cost units‚ which normally take a considerable length of time to complete. Building and construc¬tion work‚ civil engineering and shipbuilding are some examples of industries where large contract work is undertaken‚ and where contract costing is appropriate. Contract Costing deals with the books of the Contractor only‚ i.e. the cost of the work and measuring the profit or loss on the contract. Contract costing is
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2. What was it about post-1763 British policy that would cause colonists in every section to see the disadvantages rather than the advantages of being part of the British Empire? 3. Why did the Stamp Act so antagonize the American colonists? 4. Who sounded the “trumpet of sedition” in Virginia over the Stamp Act? What reasons‚ other than those stated in the resolutions proposed‚ contributed to this action? What was the effect of this‚ and what were the results? 5. What was England’s response
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Please forward the following two questions to the entire batch as directed by Sengupta sir. AS 2 Determine the cost of inventory of M/s XYZ International Limited involved in the import and trading of mobile phones as at March 31‚ 2011 in accordance with Accounting Standard – 2‚ Valuation of Inventories‚ from the following data (5000 phones) :- Purchase cost of phones – Rs 50‚000 Custom duty on Import – Rs 30‚000 Port clearing charges – Rs 10‚000 Carriage inwards – Rs 15‚000 Salary to
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