Compare Financial Accounting and Cost Accounting Using the Following Concepts

question 72

Essay

Compare financial accounting and cost accounting using the following concepts: users of the information; important criteria; who establishes or defines the system; and how to determine an accounting treatment.

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Definitions:

Variability

The degree to which data points in a statistical distribution or data set diverge from the average or mean value.

Respondents

Individuals who answer or respond to surveys or questionnaires in a research study.

Household Income

The total income earned by all members of a household, including wages, investments, and any other sources of income.

Proportion

A part, share, or number considered in comparative relation to a whole; often expressed as a fraction or percentage.