Marginal cost is the change in the total cost due to change in production output for one unit...
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Grade 12
Type: Study Card
Type: Glossary
(also called profit margin) the percentage the business adds to the cost price in order to reach...
Type: Glossary
GAAP principle that means that the business takes into account income and costs incurred in the...
Grade 12
Type: Study Card
Matching concept is the depreciation and profit/loss on the sale of assets.
Type: Glossary
the relative value of a transaction. Auditors decide on a certain amount for transactions for an...
Type: Glossary
GAAP principle that means that the business considers whether transactions are worth recording....
Grade 12
Type: Study Card
Materiality refers to the decision made by auditors about the transaction amounts that they will...
Type: Glossary
benefit offered by some employers to their staff to assist with medical expenses