Answer:
are records of increases and decreases in individual financial statement items
Explanation:
The accounts are the day to day records that the individual, company and the business organization handles. It can be classified into various accounts like - cash accounts, purchase accounts, sales accounts, etc
The cash account is the account which records the payment and receipt of the cash
And, the purchase and sales accounts tracks the purchase of the fixed asset, inventory, and sales of the fixed asset, inventory, etc
There is an end number of transactions that can be either increase or decrease
There are a lot of firms. Organizational buyers is the type of organization that Nour run.
<h3>What is Organizational buyers?</h3>
Organizational buyers are known to be people or firm that often buy direct from the manufacturers of products as at the time when the products are complex and said to be expensive pieces of equipment that needs custom design and installation.
Note that the organizational buyer often purchases in a lot of large volumes of goods to sell to others.
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A place to open the shop because a capital resource is a good that is used to make other goods.
A method of costing whereby overhead costs are allocated to a job by multiplying the actual cost of the allocation base incurred by the job by a specified overhead rate is known as Normal Costing.
<h3>
What is predetermined overhead rate?</h3>
An allocation rate known as the predetermined overhead rate allocates a specific amount of manufacturing overhead to job orders or goods.
Predetermined overhead is frequently calculated at the start of each reporting period by dividing the anticipated manufacturing overhead expenses by an allocation base.
The allocation base refers to the time taken to perform an activity such as the machine hours, direct labor hours etc.
Normal Costing also known as the product costing method in which the several cost such as the direct cost, material cost, manufacturing overhead cost as well as the work in progress is added.
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