Fixed costs remain constant during the production process and do not depend on the number of...
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Grade 12
Type: Study Card
Type: Glossary
method for calculating depreciation whereby a fixed amount or percentage of the cost price is...
Type: Glossary
important principles set out in GAAP. These include business entity concept, going concern...
Grade 12
Type: Study Card
GAAP stands for Generally Accepted Accounting Principles.
Type: Glossary
ratio comparing some form of owner's equity (or capital) to borrowed funds.
Type: Glossary
subsidiary journal used to record transactions that cannot be recorded in any other journal
Type: Glossary
the main ledger containing all the accounts of the business set out in T-format