Finance FAQs

What are fixed costs?
The costs that are fixed irrespective of production are fixed costs. EX: Rent, Depreciation Fix cost is those cost who not change in any time whether the production done or not it similar charge in every organization ex- salary of labor,...... More »
What is the difference between cost accounting and financial accounting?
One of the basic differences cost accounting is helpfully in controlling the cost of production whereas financial accounting is concerned is helpfully in determining financial position of a concern . ...... More »
Explain cost sheet?
Cost sheet is a statement of cost for a product for given period of time. ...... More »
What is marginal cost?
The marginal cost of an additional unit of output is the cost of the additional inputs needed to produce that output. More formally, the marginal cost is the derivative of total production costs with respect to the level of output. Marg...... More »
What are variable costs?
Variable costs are those that are directly proportionate with the quantity of production and or directly associated with the service. ...... More »
What kind of market structure is the automotive industry?
There are many ways to describe the market structure of the automotive industry. Here are two: One of heterogeneous buyers makes up the population and nearly homogeneous sellers. This means that everyone (the population) needs a car (bec...... More »
What is BEP?
BEP- Break Event Point: It indicates no Loss and no Profit The level of activity at which, total revenues equal total costs. A point at which there is no profit and no loss. ...... More »
Explain the information about cost sheets?
Cost sheet consists of the direct and indirect expenses incurred in producing a given product and classifying the expenses incurred according to office, administration, selling and distribution overheads. ...... More »
Does Europe the USA or China have the largest economy?
1- Europe (remember Italy, French, UK and Germany are 4 world's power) 2- USA 3- China. 2006 GDP Figures from the CIA World Fact book, in Trillions of dollars, purchasing power parity: European Union: 13.080 Unite...... More »
What currency was used in the 1700s?
This depends on the country. Most currencies, however, were based on gold and silver. In America, in the 13 colonies, tobacco was mostly used as a type of currency. ...... More »