TEST CODE : A201311 Question Cum Answer Booklet CLASS 11 Your NGSE Roll No Student’s Name Time : 90 Minutes NGSE 2013 National Genius Search Examination® : Advanced Date of the Test_______________________ Signature of the Invigilator Signature of the Student Check the correctness of the Roll No. with hall ticket. INSTRUCTIONS TO THE CANDIDATE 1. 2. 3. 4. DO NOT OPEN THIS TEST BOOKLET UNTIL YOU ARE ASKED TO DO SO. Fill and sign the Question cum Answer Booklet. Fill the information
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component to them. We derive implications for cost system choice and transfer pricing, including showing that firms may cross subsidize their products-a result consistent with the empirical evidence. (TransferPricing; Full Cost Allocation;Incentives;Costing) 1. Introduction Our objective
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Subjects for study Six subjects and Seven Papers of study in IPCC are – Group I Paper 1: Accounting (100 marks) Paper 2: Law, Ethics and Communication Part I: Law (60 marks) Business Laws (30 marks) Company Law (30 marks) Part II: Business Ethics (20 marks) Part III: Business Communication (20 marks) Paper 3: Cost Accounting and Financial Management Part I: Cost Accounting (50 marks) Part II: Financial Management (50 marks) Paper 4: Taxation Part I: Income-tax (50 marks) Part II: Service Tax (25
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be budgeting in place so these mistakes cannot occur. Budgeting involves setting out monthly or annual reports or budgets showing what the business will be spending the money on as to not over spend. Businesses will use the management accounting methods at the start of a year or budget and compare actual to budget at regular intervals. Budgeting contributes heavily to good corporate governance as they have a system in place. If the business plans and prepares its budgeting the business will
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Contents 1.0 Aims and Objectives 1.1 Introduction 1.2 Book- Keeping 1.2.1 Meaning 1.2.2 Definition 1.2.3 Objectives 1.3 Accounting 1.3.1 Meaning 1.3.2 Definition 1.3.3 Objectives 1.3.4 Importance 1.3.5 Functions 1.3.6 Advantages 1.3.7 Limitations 1.4 Methods of Accounting 1.4.1 Single Entry 1.4.2 Double Entry 1.4.3 Steps involved in double entry system 1.4.4 Advantages of double entry system 1.5 Meaning of Debit and Credit 1.6 Types of Accounts and its rules 1.6.1 Personal Accounts 1.6.2 Real Accounts
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elsevierdirect.com/rights for further information Notice No responsibility is assumed by the publisher for any injury and/or damage to persons or property as a matter of products liability, negligence or otherwise, or from any use or operation of any methods, products, instructions or ideas contained in the material herein. British Library Cataloguing in Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloging-in-Publication Data A catalog
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Cases from Management Accounting Practice Volume 15 edited by Wayne Bremser Villanova University Jim Mackey California State University Sacramento The American Accounting Association (Management Accounting Section) Institute of Management Accountants (Committee on Academic Relations) Published by Institute of Management Accountants 10 Paragon Drive, Montvale, NJ 07645-1760 Claire Barth, editor and compositor Copyright © 2000 by Institute of Management Accountants. All rights
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with that of a leading credit card company. What type of benchmarking is the company using? A B C D Internal benchmarking Competitive benchmarking Functional benchmarking Strategic benchmarking 2 Which of the following BEST describes target costing? A B C D Setting Setting Setting Setting a a a a cost by subtracting a desired profit margin from a competitive market price price by adding a desired profit margin to a production cost cost for the use in the calculation of variances selling price
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Dr © Copyright : Prof. Dr. Michael Lederer Hochschule Furtwangen – Furtwangen University © Copyright : Prof. Dr. Michael Lederer Page 1 Contents overview management accounting A. Introduction and basic concepts A.1 Cost terms A.2. Costing systems and cost allocation A.3 Cost-volume-profit analysis A.4 Operations accounting 5 11 26 63 78 B. The budgeting process B.1 Budgeting B.2 Variance analysis © Copyright : Prof. Dr. Michael Lederer 87 88 114 C. Relevant cost and decision
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1. (TCO 3) At the end of the period it is necessary to close all temporary accounts. (1) Explain why this process is required (10 points) and (2) provide an example of the closing of an expense account, Salary Expense in the form of a journal entry. (10 points) (Points : 20) 1. We have to close temporary accounts at the end of a period because when the temporary accounts are closed, it brings their balances back down to zero. 2. I would Debit Salary Expense and Credit to PayrollExpenses 12/31
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