What do we mean when we say that an accounting system needs to be cost-effective?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (5 reviews)
To be cost effective the benefit of doing something must exceed the cost of doing it In the c...View the full answer
Answered By
Carly Cimino
As a tutor, my focus is to help communicate and break down difficult concepts in a way that allows students greater accessibility and comprehension to their course material. I love helping others develop a sense of personal confidence and curiosity, and I'm looking forward to the chance to interact and work with you professionally and better your academic grades.
4.30+
12+ Reviews
21+ Question Solved
Related Book For
Accounting Theory Conceptual Issues in a Political and Economic Environment
ISBN: 978-1412991698
8th edition
Authors: Harry Wolk, James Dodd, John Rozycki
Question Posted:
Students also viewed these Accounting questions
-
What do we mean when we say that capital market research involves a joint test of both market efficiency and the model used to estimate abnormal returns?
-
What do we mean when we say that outer space is not really empty?
-
What do we mean when we say that correlation does not imply causality? What are some of the ways in which an empirical analyst attempts to disentangle the two?
-
The following auditors report was drafted by a staff accountant of Turner & Turner, CPAs, at the completion of the audit of the financial statements of Lyon Computers, Inc. (a non-public company) for...
-
a). Complete the spreadsheet below by estimating the project's annual after tax cash flow. b). What is the investment's net present value at a discount rate of 10 percent? c). What is the...
-
(a) A light balloon is filled with 400 m3 of helium. At 0C, the balloon can lift a payload of what mass? (b) What If? In Table 14.1, observe that the density of hydrogen is nearly half the density of...
-
Based on the results of a life-testing experiment, a manufacturer says there is a 0.07 probability that a randomly chosen component will last for 3 hours. Classify the statement as an example of...
-
John Ingles has provided you with the following information related to his various investment holdings as of December 31, 2012. Interest earned on joint bank account with his spouse (spouse...
-
Using Georgia law, draft a client opinion letter to Brent on how the court will respond to the following scenario: Use the sources listed below and locate Georgia primary sources that are relevant to...
-
Acme Manufacturing currently employs 13 people in its receiving department. Each receiving dock clerk earns $50,000 per year. Each employee can unload up to 200 pallets of inventory per day. It...
-
What is an accounting system and what is the primary objective of such t system?
-
What are the- three basic functions of every accounting -system?
-
The following case is a story of MHG, a leading manufacturer of drills for energy companies in the United States. MHG started to anticipate that its competitors will start targeting its younger...
-
In contrast to medical education, numerous night and part-time law schools have been established. Compare and contrast the various aspects of training that have led to these different educational...
-
Even nonprofi t hospitals must earn a profi t. Evaluate this statement.
-
Nonprofi ts are dominant in the hospital industry, while for-profi ts dominate the nursing home industry. Develop some possible explanations for this difference.
-
Defi ne monopsony and marginal labor cost . Why is the marginal labor cost in the case of monopsony above the supply (average labor cost) curve? What is the nature of the ineffi ciency or...
-
Consider Figure 13.3. Are these long-run average cost curves ( LRAC )? What accounts for the nonprofi t advantage? Look first at the "traditional" market model. . In the LR, the "marginal" firm will...
-
The steel shaft is 12 in. long and is screwed tightly into the wall using a wrench. Determine the maximum shear stress in the shaft and the amount of displacement that each couple force undergoes if...
-
What is removed during each of the three stages of wastewater treatment: primary, secondary, and tertiary? During which state would you expect items to be recovered that were accidentally flushed,...
-
While undertaking a degree in operations management, you are interested in applying for internships in this field. These jobs are advertised in job portals such as Monster, business networking...
-
According to the Hawail Wildlife Fund, North Pacific Humpback Whales migrate from the icy waters around Alaska during the fall to spend the winter in Hawaii where they mate, give birth, and nurture...
-
Find the limit 4 lim (x -2x32x + x 1) =? 2+1 -
-
Train-the-trainer manual for the training and development department within your organization or for one with which you are familiar. Your trainers will soon be responsible to train the staff about...
Study smarter with the SolutionInn App