Cost Accounting: In a broad aspects‚ Cost Accounting is a method of accounting in which all costs incurred in carrying out an activity or accomplishing a purpose are collected‚ classified‚ and recorded. This data is then summarized and analyzed to arrive at a selling price‚ or to determine where savings are possible. So Cost Accounting consists of the identification‚ measurement‚ collection‚ analysis‚ preparation‚ and communication of financial information For example‚ calculating the cost of product
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choose to elect out of the exclusion to reserve its use for the second sale where the gain is larger. 3. Is it possible to differed gain through the purchase of a new residence? No‚ the exclusion is [permanent‚ there for no reinvestment is required. 4. Why would the exclusion on sale of resident be prorated? It can be prorated if the sale id due to a change in place of employment‚ a change in health‚ or unforeseen circumstances‚ even if a taxpayer does not meet the ownership usage‚ or sale within
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Firms that are involved in international business tend to be a) large b) small c) medium-sized d) large‚ small‚ and medium-sized Review Question 4 Which is not a factor of production? a) trade b) land c) capital d) energy Review Question 5 The sourcing of good and services from around the world to take advantage of national differences in the cost and quality of factors of production is called a) economies of scale b) the globalization of production c) global integration d) global sourcing Review
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A. * Jan 4 acc rec 3900 * Sales 3900 * Jan 4Cost of merchandise sold 2630 * Merchandise inventory 2630 Sales 3900 Cost of merchandise sold 2630 Gross profit 1270 Ending inventory 3250 B. * Jan 4 acc rec 3900 * Sales 3900 * Jan 4 cost of merchandise sold 2660 * Merchandise inventory 2660 Sales 3900 Cost of merchandise sold 2660 Gross profit 1240 Ending inventory 3220 Inventory system 1. Perpetua: record
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comparing competing brands available in the market E) use of online interactive media to promote products and brands Answer: C Page Ref: 243 Objective: 1 Difficulty: Easy 1 Copyright © 2012 Pearson Education‚ Inc. Publishing as Prentice Hall 4) Brand ________ is the added value endowed to products and services. A) loyalty B) equity C) preference D) identity E) licensing Answer: B Page Ref: 243 Objective: 2 Difficulty: Easy 5) ________ is the differential effect that brand knowledge has on
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Chapter 1 An Introduction to Managerial Accounting and Cost Concepts Introduction to Managerial Accounting MSc. Mohammad Hicham Khalil Objectives 1. Comparison of Financial and Managerial 2. 3. 4. 5. 6. 7. 8. Accounting. General Cost Classifications. Product Cost versus Period Cost. Cost Classifications on Financial Statements. Cost Classifications for Predicting Cost Behavior. Cost Classification for Assigning Costs to Cost Objectives. Cost Classification for Decision Making. Review
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cannot easily be duplicated by its competitors is known as comparative advantage. ANS: F A state whereby a firm’s strategies cannot easily be duplicated by its competitors is known as competitive advantage. PTS: 1 DIF: Difficult REF: 1-1 4. Managers who are too busy to engage in strategic planning should wait until they have more free time in their schedules. ANS: F Managers who are “too busy” need to make the time to consider strategic planning. PTS: 1 DIF: Easy REF: 1-1 5
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Torrents are the most widely used peer-to-peer file sharing technique. The peer-to peer file distribution system consists of a wide network of people who share files through a peer-to-peer file sharing software via torrents. Torrents can be used to download various softwares‚ books‚ music and other online material. Most of the people are looking for a Dub Turbo torrent these days. This is mainly because they want to save up money and get the software for free. Some also argue that they want to try it
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The Effects Of Music Downloads “Without music‚ life would be a mistake”. This particular quote by Friedrich Nietzsche shows how important the role of music in our life and how it may impact a certain individual’s life that lives without it. Music is incorporated into our daily lifestyle whether it is through a social aspect or a cultural aspect‚ that it could make one’s life to feel incomplete to live without it. The music industry is one of the most important and biggest industry because of the
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for an elaborate information management system. It appears that the full potential of SSC profitability is not being realised due to reliance on an outdated information and cost accounting model. The objective of this report is to elucidate the method of integrating SSC operational processes‚ information and cost accounting aspects through ABC‚ thus aligning them with their competitive strategy. We will identify potential issues and recommend viable solutions.
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