|Term-Concepts |Definition | |Purpose of Accounting |Communicating financial information to end users so they can make informed decisions. | |Accounting Entity |The financial affairs of the business are separate and distinct from the financial affairs of the owner. | |Monetary Concept |All transactions are recorded in
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Historical Cost Concept What is historical cost? Historical cost is a term used instead of the term cost. Cost and historical cost usually mean the original cost at the time of a transaction. The term historical cost helps to distinguish an asset’s original cost from its replacement cost‚ current cost‚ or inflation-adjusted cost. For example‚ land purchased in 1992 at cost of $80‚000 and still owned by the buyer will be reported on the buyer’s balance sheet at its cost or historical cost of $80
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Assignments Requirements 1. Look up the definition of functional dependency. Can you find a good example? In relational database theory‚ a functional dependency is a constraint between two sets of attributes in a relation from a database. Cars Suppose one is designing a system to track vehicles and the capacity of their engines. Each vehicle has a unique vehicle identification number (VIN). One would write VIN → Engine Capacity because it would be inappropriate for a vehicle’s engine to have
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PRODUCTIVITY CONCEPTS AND MEASURES Productivity is an overall measure of the ability to produce a good or service. More specifically‚ productivity is the measure of how specified resources are managed to accomplish timely objectives as stated in terms of quantity and quality. Productivity may also be defined as an index that measures output (goods and services) relative to the input (labor‚ materials‚ energy‚ etc.‚ used to produce the output). As such‚ it can be expressed as: Hence‚ there
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What is Management? Management is a worldwide phenomenon and is therefore a popular and widely applied term. Management involves all kinds of organizations‚ whether they are political‚ business‚ social or cultural because it aids and provides directions for reaching a specific goal through the efforts of the people working in an organization. Management is an activity with a definite purpose or aim. It is an activity which gives direction to the people’s endeavors for accomplishing specific set
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Introduction The concept of resilience is the ability to cope with unexpected changes and challenges in your life (mindhealthconnect‚ 2015). This concept focuses around the idea that an individual will use their individual strengths to overcome the obstacles through the factors that contribute to resilience. However there are many differing theories created to the concept of resilience. Within this essay i will discuss what the concept of resilience while also detailing the overall factors that contribute
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Definition of Generosity What is generosity? To some‚ it’s giving more than you have to individuals that might need it more than you do. To others‚ it’s trying to make people smile‚ or make someone’s day a little bit brighter. Being generous does not mean that you have to give money‚ sometimes you just have to give time and attention. Every person has a different definition of what it means. Anne Frank states that "No one has ever become poor by giving." Is that because being generous makes your
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Leisure Concepts Assignment 2: Major Paper Word limit: 2000 words (up to 3000 will be accepted without penalty) Weighting: 40% Due date: 18th June Key criteria of this assignment Component Mark / Grade Content – does the paper examine the issue with a critical eye? Does it the essay develop an argument that is well researched and supported. 17/19 Style – does the paper follow appropriate essay writing conventions? Is it well written and are spelling and grammar acceptable? 5/6 Introduction
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Banking Concept of Education”‚ he discusses the importance of a student-teacher relationship and the issues of the educational system. The banking method signifies how teachers “fill” up their student’s minds with knowledge without any questions. This method‚ Frerie believes‚ limits the student’s capability to think for them-selves that leads for students to constantly rely on information from their teachers. Freire then proposed a solution for the banking concept called “problem-posing concept”‚ a method
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Macroeconomic Definitions Absolute advantage | Absolute advantage occurs when a country or region can create more of a product with the same factor inputs | Accelerator effect | Planned capital investment by private sector businesses is linked to the growth of demand for goods and services. When consumer or export demand is rising strongly‚ businesses may increase investment to expand their production capacity and meet the extra demand. This process is known as the accelerator effect. But the
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