Management Accounting PART-A Q. 1. State three points of similarities between financial accounting and cost accounting. Ans. Both financial and cost accounting are interdependent and their co-existence enables businesses to compute costs and sales realistically‚ properly and most importantly helps them to avoid loss some of similarities are mentioned below 1 Reports Financial accounting is used to produce reports that include financial statements‚ including the balance sheet‚ income
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THE FIRM’S BASIC PROFIT MAXIMIZATION PROBLEM Chapter 2 slide 1 What Quantity of Output should the Firm Produce and Sell and at What Price? The Answer depends on Revenue and Cost Predictions. The Solution is Found using Marginal Analysis. Expand an Activity if and only if the Extra Benefit exceeds the Extra Cost. MAXIMIZING PROFIT FROM MICROCHIPS 2.2 A1. Focus on a single Product‚ A2. whose Revenues and Costs can be predicted with Certainty. Revenue can be predicted using the Demand
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1-17 (15 min.) Value chain and classification of costs‚ pharmaceutical company. Cost Item Value Chain Business Function a. b. c. d. e. f. g. h. Design of products‚ services or processes Marketing Customer Service Research and Development Marketing Production Marketing Distribution *2-23 (15–20 min.) Classification of costs‚ retail sector. Cost object: Videos sold in video section of store Cost variability: With respect to changes in the number of videos sold There may be some debate over classifications
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Discussion Questions Week One Economics 365 TEAM C- WEEK ONE DISCUSSION QUESTIONS 1. What is economics? What role does economics play in your personal and organizational decisions? Provide an example of the role of economics in decision making. (Ana K Gonzalez) * According to "What Is Economics? A Definition Of Economics" (2012): * Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. Economics explains how
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Why does Ismene object to Antigone’s plan to bury Polyneices? Possible Answer: Ismene believes the men who rule Thebes must not be disobeyed because men are stronger and their will must be respected. How does Antigone demonstrate pre-feminist ethics? Possible Answer: Antigone believes that a woman’s duty is not to the men who rule a domain‚ but rather to her own instincts and her own sense of right and wrong. She believes that the gods do not dictate through a ruler‚ but rather through individual
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CHAPTER 9 Three conditions for a market to be perfectly competitive? Many buyers and sellers‚ with all firms selling identical products‚ and no barriers to new firms entering the market. In perfectly competitive markets‚ prices are determined by The interaction of market demand and supply because firms and consumers are price takers. Price taker Buyer or seller that is unable to affect the market price. A buyer or seller that takes the market price as given When are firms likely to be
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ANSWERS TO QUESTIONS: 1. What are the significant regions in the titration curve? Relate the characteristics of each region to the pH results obtained. - There are four significant regions in each titration curve‚ namely the initial‚ pre-equivalence‚ equivalence‚ and post-equivalence points. These points are named according to its position relative to the equivalence point. The equivalence point signifies the volume of titrant at which the solution becomes neutral. This is represented in the
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and exit Short Run Firm has some market power and faces downward sloping demand curve Price exceeds marginal cost When P>AC firms earn positive economic profits Long Run Positive economic profits in short run attracts new firms Firm’s market share falls and demand curve shifts down P=AC firms earn 0 economic profit P>MC and 0 economic profits deadweight loss Market in which only a few firms compete with one another‚ and entry by new firms is impeded Oligopoly Environment Few
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1. What is the Gist of Old Majors Speech? At the beginning of the novel‚ the highly respected Middle White Boar – old Major – presents the animals with a speech‚ which is intended to plant within the animals his vision of a liberal future for all animals. The essence of Old Majors speech is that ‘...The life of an animal is misery and slavery...’ He is telling them of the reality of their existence - that they are merely slaves for mankind. Old Major explains to the animals that man is the reason
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Exam Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Which of the following statements about marketing is true? A) It is of little importance when products are standardized. B) It can help create jobs in the economy by increasing demand for goods and services. C) It helps to build a loyal customer base but has no impact on a firm’s intangible assets. D) It is more
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