Acca definitions fa1 Study guides, Class notes & Summaries

Absorption costing correct answer: focuses on the total cost of producing one unit of output, includes fixed production overheads in valuation cost of production. Account correct answer: is a location where all items relating to one particular group are recorded. For example, cash items are recorded in the cash account. Account code correct answer: is a unique group of numbers and/or letters that is used to identify an item and classify it into a particular group. Accounts receiva...

ACCA Definitions FA1 & MA1 Questions With Complete Solutions ACCA Definitions FA1 & MA1 Questions With Complete Solutions

Absorption costing correct answer: focuses on the total cost of producing one unit of output, includes fixed production overheads in valuation cost of production. Account correct answer: is a location where all items relating to one particular group are recorded. For example, cash items are recorded in the cash account. Account code correct answer: is a unique group of numbers and/or letters that is used to identify an item and classify it into a particular group. Accounts receiva...

ACCA Definitions FA1 & MA1 Questions With Complete Solutions

ACCA Definitions FA1 & MA1 Questions With Complete Solutions