PRINCIPLES OF COST CONTROL 1.1 Introduction Cost is important to all industry. Costs can be divided into two general classes; absolute costs and relative costs. Absolute cost measures the loss in value of assets. Relative cost involves a comparison between the chosen course of action and the course of action that was rejected. This cost of the alternative action - the action not taken - is often called the "opportunity cost". The accountant is primarily concerned with the absolute cost. However‚
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something for the sole purpose of selling it. Today‚ advertisements are brought to our attention via a multitude of media‚ like the TV‚ magazines‚ Internet‚ billboards‚ newspapers‚ as well as amateurish flyers stuffed into mailboxes. Just what impact does this have on our society? To begin with‚ the way men and women are being portrayed in advertisements is often not fair‚ as it has consequently led to sexism in our society. Women are presented as sex objects in the media nowadays. It is
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To value one’s own emotions too highly and to forget that others’ emotions should be acknowledged is a natural human tendency. Mr. Conrado Arabia portrays this tendency. In Bienvenido N. Santos’ “The Transfer”‚ we see how the turn of events make him realize that Father Simplicio Ruivivar is not just their parish priest – he is also human and‚ just like any other human‚ he yearns for love‚ understanding and attention. The first part of the story‚ which consists mostly of descriptive paragraphs‚
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1. What are the three golden rules of accounting? Real Accounting: Dr - What comes in Cr - What goes out Examples of this kind of transaction include cash/bank and rent. Personal Accounting: Debit is the receiver. Credit is the giver. An example of this kind of transaction is Vendor/Customer relations. Nominal Accounting: All gains and income are credit. All losses and expenses are debit. An example of this kind of transaction is sales and/or purchases. 2.Balance Sheet DEFINITION OF
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A: COMPULSORY Answer ALL questions 1-12 1. A resistance temperature device has a resistance R0 = 100 Ω at 0o C. If the resistance RT = 197.7 Ω in an oil bath‚ what is the temperature of the oil in the bath‚ given that RT = R0(1+αT)? Take R0 = 100 Ω R0 = resistance at 0o C α = 3.9083 x 10-3 /o C (2 marks) NDE Thermodynamics and Heat Transfer Exam 2008 Name: _______________________________________ Read all the instructions before starting Do not open this paper until instructed Time allowed: 2 hours
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Three major systems of government are a unitary‚ confederal‚ and a federal system. A unitary system is comprised of one major central government that controls a number of weaker states. In this system‚ the weaker states have no power whatsoever over the central government. Two largely populated countries with a unitary government are the United Kingdom‚ and China. A confederal system is a system in which a number of slightly organized states hold a majority of the power‚ while the central government
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choosing among alternatives with an immediate or limited end in view. Strategic decisions involve selecting strategies that yield a long-term competitive advantage. 2. Depreciation is an allocation of a sunk cost. This cost is a past cost and will never differ across alternatives. 3. The salary of the supervisor of an assembly line with excess capacity is an example of an irrelevant future cost for an accept-or-reject decision. 4. Past costs can be used to help predict future costs. 5. Yes
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Reflection Paper #1‚ “The Three Ethical or Systems of Morality” We have discussed three major ethical or systems of morality; Ethical Egoism‚ utilitarianism‚ and Kantianism. The three systems go to different degrees in respect to the two ethical principles of autonomy and beneficence. Although quite different from each other in many ways some of them do share some common principles between them. In this paper I will discuss the similarities and differences of the three systems. We also watched
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Under the terms of the Manifesto‚ the autocracy acted as a mediator between the landowners and the peasants. The government paid the landowners for their losses‚ which included land and peasant labor‚ and the peasants repaid the government for the cost of the land and labor with interest over a period of forty-nine years. The plan‚ however‚ was not popular with the landowners nor with the peasants. The land owners did not want to part with any of their land and‚ therefore‚ many chose the least
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Discuss the impact nanotechnology will have on modern society. Zachary Lloyd Nanotechnology is defined as the branch of science that deals with the development of functional systems at a molecular scale and involves the manipulation of individual atoms and molecules (Responsible Nanotechnology‚ 2002; United States Nanotechnology Inititaive‚ 2014; Dictionary.com‚ 2014). According to James B. Lewis Enterprises (1986)‚ Fanfair‚ Desai and Kelty (2007)‚ the idea of nanotechnology was first brought
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