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INSURANCE
Trustees may insure trust property against loss or damage by fire subject to the following conditions: 1. The insurance must not exceed the full value of the property;
2. The trustees must not insure if:
3. Premiums may be paid out of income of the trust property (not necessarily the property insured);
4. Insurance money received is to be treated as capital, and held on the same trusts as the property insured.
Comparison between Marginal Costing and Absorption Costing There are accountants who favour all costing method. Arguments in favour about absorption costing are specified a
A soft drink maker wants to expand into a neighboring country. They want the product bottled in that country to avoid political issues and to enhance the local image of the produc
Calculate Cost or Equivalent Units The given work in progress account concerns to the blending department of a company, a soft-drinks company for the month of January in 1999
Material Usage Variance (MUV): This is the variation between the actual quantity of material consumed and standard quantity which should have been consumed, expressed in terms
what is the meaning or definition of cost objective?
Co-ownership incentive scheme or Profit Sharing Schemes The organization permits for ownership whereby the employees are permitted to own a percentage of the shares in the fir
Variable Overhead Variance (VOHV) VOHV is defined by ICMA, London, as 'the variation between the standard variable production overhead absorbed in the production achieved, whet
A forecasted increase in metal prices has encouraged the ABC Resource Company to consider the expansion of the capacity in one of its mine operations in Northern Ontario. For this
Job Costing This is a costing method that is applied when a job or cost unit is relatively of small size, is undertaken to fit the customer's specifications and is of compara
what is the role of cost accounting in business
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