BSNS 115 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTION GRADED A++
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Course
BSNS115
Institution
BSNS115
BSNS 115 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTION GRADED A++
Comparative information
allows users to see how firm's financial position has changed between current and past financial periods
cash basis
only when actual cash moves
Accrural basis accounting
recorded in the period the tr...
allows users to see how firm's financial position has changed between current and past
financial periods
cash basis
only when actual cash moves
Accrural basis accounting
recorded in the period the transaction occurs regardless of whether cash moves
Net assets=
OE
Management accounting
classified by the way it behaves
Finc accounting
classified by nature or function
Total cost=
fixed cost + variable cost
C-V-P analysis
analyses relationship between cost of business activity and output
all costs either fc or vc
, assumptions of cost behaviour
relevant range and linearity
cost margin
difference between VC and selling price. cm determines what portion of a sale is FC
and profit
TCM=
sales-variable cost
UCM=
selling price per unit- vc per unit
CM ratio
Total CM/Sales
CM ratio per unit
UCM/SP
break-even point
the point where total revenue equals total cost
BE in units
FC/CM per unit
BE in $
FC/CM ratio or BE units X SP
BE + desired profit in units
FC + profit/ CM per unit
BE + Desired Profit - $
FC + P/CM ratio or X SP
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