Search results for keyword: deduction
unavoidable cost
Avoidable and Unavoidable Costs
Introduction
Costs are obligations and expenses incurred in the production of a product or service. Avoidable costs and unavoidable costs are two broad categories of costs that are usually discussed in the context of business and economics. Avoidable costs are tho......
1035 
Sophia
first loss insurance
The purpose of first loss insurance is to indemnify a party for its losses resulting from an agreement or contract. This type of insurance is often used to protect a party from financial loss associated with a risk or contractual obligation that could potentially affect the security of the partys ......
tax avoidance
Tax Evasion
Tax evasion is the illegal act of avoiding taxes. This can either be done by not reporting income, underreporting income, or by utilizing illegal and illegitimate schemes to hide or conceal income. When individuals refuse to report or underreport their taxable income they are stealing......
rating scale
Rating Scale Method
Rating scales are a simple yet effective method of measuring subjective opinions on practically any subject. A rating scale is a type of psychometric test in which respondents are asked to rate an object or concept on a numeric or descriptive scale. It is typically used to mea......
legal person
What is a Corporation
A corporation is a legal entity created by individuals, stockholders, or shareholders, with the purpose of operating for profit. Corporations are allowed to enter into contracts, sue and be sued, own assets, remit federal and state taxes, and borrow money from financial inst......
Legal person establishment
Establishment of Legal Person
Introduction
The term legal person generally refers to a business entity or organization which is legally recognised as having a separate legal personality and which can own assets, and enter into contracts in its own name. The fact that a legal entity is legally re......
Expenses for the period
Fixed Costs
Fixed costs are those expenses incurred when running a business that remain relatively consistent regardless of the activity level or volume of production. Fixed costs refer to any expenses that a business cannot easily change in the short-term. Examples of fixed costs include buildin......
classification cost method
Cost Classification
Cost classification is the process of categorizing expenditures in order to better understand the cost structure of a company. This system is critical for effective decision making, planning and control, as well as to meet various compliance requirements. The primary focus of ......
accumulated depreciation
Accumulated Depreciation
Accumulated depreciation is when a company records the depreciation of an asset on the balance sheet over its useful life. Depreciation is an accounting methodology used to spread the capital costs of physical assets out over their useful lives. Companies use it to alloca......
joint control operation
Partnership Control of Business
Introduction
Partnership control of business has historically had a significant impact on business operations, with the primary goal of achieving effective and optimal management of the venture. Partnerships have frequently been used in business in order to combin......
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