List and Briefly Describe the Four Forces That Shape the Speed

question 25

Essay

List and briefly describe the four forces that shape the speed and direction of winds.

Analyze the effect of inventory valuation methods on tax liability and company's book value.

Understand the difference between fixed and flexible budgets.

Grasp the concept of cost variance and its components.

Learn the principle of management by exception.

---

Definitions:

Net Method

An accounting technique that reports invoice amounts and accounts payable after deducting any available discounts for early payment.

Cash Discount

A reduction in the price paid for goods or services offered to the buyer as an incentive for early payment.

Original Voucher

A document that serves as evidence for a transaction and supports entries made in the accounting records.

Original Voucher

A primary document used as a piece of evidence for a transaction that has occurred, supporting entries in an accounting system.