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A business cycle or a trade cycle is a wave like movement in macro economic activities like income, output and employment which shows upward and downward trend in the economy.
A business cycle is an important parameter of the macro economic study. It helps us to estimate the future and take decisions accordingly.
The Stock Exchange is the ultimate economic barometer as it directly reflects the current economic financial position and plays an integral role as it acts as an important strategic financial tool to predict the future financial estimates and the likely trend of the economy.
Cost Accounting is the process of accounting for costs from the point at which the expenditure is incurred or generated to the acertainment of its ultimate relationship with various cost centres and cost units. It is a system of accounting which is concerned with output of costs of doing a certain activity which can be manufacturing or rendering services.
Cost accounting is a formal system of accounting by means of which costs of various products or services, are ascertained and controlled.
WHAT IS TAX? Types of Taxes: Direct Taxes: Indirect taxes: The Fundamental Canons of Taxation by Adam Smith: Canons of Taxation: Canons of Taxation represent the main basic principles or rules laid down to establish a good tax system. Canons of taxation were first originally laid down by economist Adam Smith in his famous book … Read more
Meaning: STRENGTHS: Strengths are equivalent to assets of the organisation. It is an inherent capacity by which the organisation gets a competitive advantage. They represent the strongest aspects of the organisation. Strengths are the elements wherein the organisation is expert at. These are the factors responsible for the steady success of the organisation. For example: … Read more
Meaning: Objectives of Business: Types of business organizations: There are innumerable forms of business organization each one with its distinctive features, advantages and disadvantages. 1. Sole proprietorship 2. Hindu undivided family business 3. Partnership 4. Limited Liability Partnership 5. Company
WHAT IS DEMAND IN MANAGERIAL ECONOMICS? WHAT ARE THE DETERMINANTS OF DEMAND? 1. Price: The price of any given commodity determines its demand to a great extent. Consumers prefer to purchase a product in relatively large quantities when price of a product is less and purchase a product in small quantities when price of a … Read more
Accounting Errors are those errors which are committed due to negligence or lack of knowledge of the principles of accountancy.
WHAT ARE ACCOUNTING STANDARDS? Definition of Accounting Standards: Objectives of Accounting Standards: Advantages of Accounting Standards: Disadvantages of Accounting Standards:
Insurance is an important economic tool to manage risks and to maintain a good ratio of risks and rewards. It is a financial hedging instrument.