Answer: Option C
Explanation: Manufacturing overhead refers to the that portion of the cost which cannot be allocated to the units produced in a reasonable manner. These costs are indirectly related to the product manufactured. For example = depreciation, rent etc.
Thus, the cost of glue cannot be allocated to each individual unit produced. As the worker might put a more in one unit and a little less in the other.
Thus, from the above we can conclude that the correct option is C.
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Answer:
Reason : To ensure constant flow of cash
Explanation:
<u>Accrual Basis of accounting</u> records transactions when they meet definition and recognition criteria of Assets, Liabilities,Equity, Expense and Incomes.
This is different from<u> cash-basis accounting</u> which records transactions at the receipt or payment of cash.
Because of <em>timing</em> difference, the cash transactions (cash basis) can happen a late than the day of recognition of the elements (accrual basis).
Hence Revenue services demand that income tax be calculated on accrual basis to ensure a constant flow of cash whenever an entity transact.
It is called the law of demand and supply whereby when the supply of commodity increases, the need reduces. The market becomes flooded with the items while the number of customers is constant. Moreover, when the supply of a good diminishes its demand goes up.
