Answer:
numerous cost pools and numerous cost drivers
Explanation:
Costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.
In Financial accounting, one of the most widely used activity-based costing technique is the time-driven activity-based costing.
Time-driven activity-based costing (TDABC) avails business owners the opportunity of reporting their costs on an ongoing basis (real time) which give details about the various cost of doing business, as well as the time spent on them respectively.
Cost pool is simply the amount of money spent by a firm on a particular activity.
Generally, an activity-based costing uses numerous cost pools such as manufacturing cost or customer services and numerous cost drivers such as direct labor hours worked, number of changes used in engineering department, etc.
That they are doing very well
Answer:
A.True
Explanation:
a person who sets up a business or businesses, taking on financial risks in the hope of profit.
Answer:
Financial Accounting Standards Board
Explanation:
Answer:
An employee is terminated.
Explanation:
All the transactions, in a company or organisation are recorded in financial statements of the company.
For this each transaction having some numerical value, that has a monetary effect on the organisation is identified.
In the given case,
- purchase of equipment will involve direct monetary effect as cash will be paid, asset will be increased, etc:
- cash investment made, will again require cash outflow, and is presented as monetary in nature.
- Declaration of cash dividends gives existence to a liability called dividend payable, or scrips payable, and is thus, recorded in books.
- The termination of employee does not itself involve any direct monetary effect. As, the payment made or realized from such termination will be recorded in financial statements.
