STANDARD COSTING NOTES
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PREVIOUS YEARS QUESTIONS & ANSWERS ( including expected theory questions)
🛑 What is hire purchase system ? 🛑 What do you mean by minimum rent ? 🛑 What is single entry system ? 🛑What do you mean by Del- credere commission 🛑 What is down payment & Hire purchase price ? 🛑What is Account sales ? 🛑What are the difference between hire purchase and instalment method 🛑 DEPENDENT BRANCH 🛑 BRANCH ACCOUNTING 🛑GOODS IN TRANSIT goods sent to branch by head office towards the end of the accounting period not received by the branch till the end of that period are known as goods in transit. 🛑CASH IN TRANSIT Branch may send cash to H.O. frequently. At the end of the accounting period, if there is any cash in transit, it should be adjusted just like goods in transit.
COST REDUCTION
🛑COST REDUCTION 🛑 “Cost reduction is to be understood as the achievement of real and permanent reduction in the unit cost of goods manufactured or services rendered without impairing their suitability for the use intended or diminution in the quality of the product.” 🛑COST REDUCTION “Cost reduction is to be understood as the achievement of real and permanent reduction in the unit cost of goods manufactured or services rendered without impairing their suitability for the use intended or diminution in the quality of the product.” The definition given above brings to light the following characteristics of cost reduction: 1. The reduction must be a real one in the course of manufacture or services rendered. Real cost reduction comes through greater productivity. Greater productivity may be through (1) obtaining a large quantity of production from the same facilities; (2) using materials of lower price and of different quality without, however, sacrificing the quality of the f...
E COMMERCE UNIT 04 IMPORTANT
🌑Establishment of Cyber Appellate Tribunal (Section 48)🌑 The Central Government notifies and establishes appellate tribunals called Cyber Regulations Appellate Tribunal . The Central Government also specifies in the notification all the matters and places which fall under the jurisdiction of the Tribunal.
E COMMERCE UNIT 3 SHORT NOTES
UNIT 03 IMPORTANT AREAS E PAYMENT SYSTEM An e-payment system is a way of making transactions or paying for goods and services through an electronic medium, without the use of checks or cash . It's also called an electronic payment system or online payment system.
