Explain what is meant by: The benefits of accounting information must exceed the costs.

Q: Human Resources Accounting is a tool of management accounting O a. True O b, False

A: HR Accounting is used to measure  The American Accounting Association Committee on HRA has defined…

Q: Definiton of accounting

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing, and…

Q: provide solution in good accountin

A: The depreciation of an assets up to a certain point inside its life is known as accumulated…

Q: To be useful, accounting must be relevant and have faithful representation. O True O False

A: Accounting means the process of recording the transaction , posting , summarising , interpreting…

Q: What is tally accounting?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Classify the Costs for Financial Statements?

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: What are some of the accounting information costs? What are some advantages of accounting data?…

A: The answer:

Q: Why is accounting a service activity and also a process or system?

A: Accounting is adopted by every business irrespective of its nature.

Q: What is tally accounting, and how does it work?

A: Tally is an accounting program that lets you track and manage all of your accounts, sales, debts,…

Q: Which of the following are considered secondary characteristics of accounting information? a.…

A: Accounting information is used by various users for different purposes. The primary characteristics…

Q: _____________ is devoted to providing information to the external users

A: External users are investors, creditors and other third parties who review the financials of the…

Q: Explain the impact of using indirect material on accounting equation.

A: Indirect materials are materials used in the production process, but which cannot be linked to a…

Q: How the system of cost accounting has overcome the limitations of financial accounting. Explain it…

A: Cost Accounting -: Cost accounting is a procedure of administrative accounting that aims to…

Q: What is the best accounting method?

A: Accounting Method: The accounting method is the method used for maintaining the books of accounts of…

Q: Explain the costbenefits principles and how this affects the reliability and relevance of the…

A: Relevance refers to the concept or an idea that whatever information that is provided by the…

Q: е Cor

A: Jul 2002 to Dec 2002  -  6 months…

Q: Compute accounting rate of return and explain its use.

A: Accounting rate of return in simple terms is an average rate of return of return from an investment.…

Q: What are the outputs of the accounting cycle, why are they important and how are they interrelated?

A: Outputs of the accounting cycle-First of all, we need to understand what is an accounting cycle.  An…

Q: What is meant by the term “qualitative characteristics of accounting information”?

A: Qualitative Characteristics of Accounting Information System: Qualitative characteristics are what…

Q: Explain an example of accounting process cycle.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: What do you mean by materiality concept in accounting?

A: Materiality concept:Materiality concept refers to a condition wherein, the financial information of…

Q: Explain whether the cost of accounting systems primarily support internal or external reporting

A: Cost Accounting System: Cost accounting system can be defined as a framework designed by the…

Q: are the two fundamental qualities that make accounting information useful for decision making. a.…

A: solution concept Relevance means the information that are relevant for the users of the financial…

Q: how solutio

A: This is a multiple-choice question in which we have to select the correct option.

Q: Cost is a pervasive constraint on the information that can be provided by financial reporting.…

A: Financial statements (or financial reports) are official records of a company's, person's, or other…

Q: solution

A: In this question, we have to find out the cost of land and building Land and building both are…

Q: What is a mixed attribute measurement model? Why is it used in accounting?

A: (1) It is a measurement basis that is used to measure the value of assets and liabilities under "US…

Q: Why is accounting a system of information? Extend your explanation with an example from your own…

A: Introduction : Accounting a system of information : Accounting Information Systems aids in the…

Q: Identify each of the following terms/phrases as either an accounting (a) principle, (b)…

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

Q: Which of the following requires accounting information to be complete, neutral, and free from…

A: Accounting principles:   These are the assumption, concepts, and guidelines necessary to prepare and…

Q: Reccomendation

A: Ans. The major environmental factors that effects accounting system are : i. The economic…

Q: Management accounting deals with Qualitative Information O a. True O b, False

A: Management accounting does not only deal with quantitative data but also deals with qualitative data…

Q: State the accounting assumption, principle, qualitative characteristic, or constraint that is most…

A: State the accounting assumption, principal qualitive characteristic or constraint that is most…

Q: Qualitative characteristics of accounting information - Relevance - Reliability - Comparability…

A: The qualitative characteristics of accounting information is useful for decision and reporting…

Q: What is the aim of accounting, to put it in the broadest possible terms?

A: Introduction: A business's financial events and transactions may be summarized and recorded in…

Q: Which of the following requires accounting information to be complete, neutral, and free from…

A: Accounting Principles:

Q: Why is accounting described as a service activity?

A: The activities that are carried out with a view to assist the organisation in the delivery and…

Q: Is the matching of costs and revenue a basic accounting principle?

A: Accounting Principle: The set rules which defines the way account should be prepared is known…

Q: Why accounting is an infromation system? Explain with your own point of view with example.

A: Accounting Information Systems helps to perform the tasks in the job of Budget Analysis. An…

Q: Explain why there is a trade-off between information accuracy and information timeliness. Give an…

A: Accounting Information System (AIS): The accounting information system is a system that collects,…

Q: Demonstration of the relationship between GAAP and accounting practices (e.g., matehing prineiple…

A: The process by which financial transactions of the business are recorded and communicated with the…

Q: Which of the following costs would not be included in accounting financial statements? O A.…

A: Financial statement includes all those costs that are incurred in the business such as sunk cost,…

Q: What are some of the costs of providing accounting information? What are some of the benefits of…

A: Accounting information: A procedure or system that collects information related to money related…

Q: accounting mitigate the problem of agency theory t

A: As per agency theory, management acts as agent of shareholders. Shareholders are owners and…

Q: Explain the accounting constraint of materiality.

A: