Any economy in the world tries to achieve certain goals which are called macroeconomic variables/goals. These goals are interrelated and they try maintaining …
Illustration Assume that by coincidence two firms have exactly the same costs and revanue, but that M ltd uses a marginal costing approach to valuation of …
Absorption costing is a technique where the goods are valued considering full production cost of the product of the product. When pricing or valuing the stocks …
Marginal costing is a technique where the goods are valued considering only the variable cost component of the product. When pricing or valuing the stocks …
What is Unemployment? Unemployment refers to those individuals who are not in employment and who are either in the process of moving to a new job or who are …
What is Inflation? Inflation can be defined as “Too much of money chasing behind few goods”. In other word there is more money in the hand of …
What is a “Cost” ? The term “cost” can be defined as all expenses that are incurred in relation to a specific item or an activity. It …