humiee n.s
humiee n.s answered question
The accountant must not waste time in the elaborate recording of trivial or insignificant items.according to the materiality concept,the accounting treatments of items or transactions would depend on their significance and relative value to the business.
humiee n.s
humiee n.s answered
The basic economic problem is scarcity that is we have limited resources and our wants are unlimited.therefore we have to make a choice since we cannot produce everything because of lack of resources and this involves an opportunity cost.since if we want to produce good x we have to forego or sacrifice good y.
humiee n.s
humiee n.s answered
Net profit margin is net profit to sales ratiothat is net profit/sales *100=B%IT EXPRESSES THE RELATIONSHIP BETWEEN THE NET PROFIT AND THE TURNOVER OF THE BUSINESS.a fall in net profit can be attributed to the following factors1) A fall in gross profit margin2) an increase in cost of operation leading to an increase in operating … Read more