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Multi-stage decision making under risk (The use of decision trees)
Sequencing is concerned with the selection of an appropriate sequence or order of performing a series of jobs to be done on a finite number of machines or service facilities in some well defined technological order so as to optimize some measure of performance of the system, such as minimizing overall cost, total elapsed time. Decision trees are employed in solving sequential problems where there is an element of uncertainty. We use expected values to find the best alternative.A decision tree is valuable for many reasons including:
Cash discount is given to buyers to bring them to make prompt payment. The credit terms identify the percentage discount and the period throughout which it is obtainable. Liberal c
State the factors of CVP The three factors of CVP analysis I e cost volume and profit are interconnected and dependent on one another . for example profit depends upon sales se
Explain product cost Product costs are those costs which are associated with and directly identifiable with the product. In other words, which are assigned to the product are p
Advantages of activity based costing 1) It helps understanding the behavior of overhead costs and their relations ship to products services customers and market segments. 2)
State Material price variance Difference among standard price and the actual price of the material is the material price variance. This variance arises because of various facto
what is the not differential cost
State overhead expenses It is to be noted that the term overheard has a wider meaning than the term indirect expanses. Overheads include the cost of the indirect material and
define budget control system
The Nature of Accounting Accounting is process of recording, analyzing, summarizing, and interpreting financial (money-related) activities to allow individuals as well as org
#Explore the behavioral aspects of budgeting#
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