Please Define the Following Key Terms

question 78

Short Answer

Please define the following key terms. Show Who? What? Where? When? Why Important?
-John Constable

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Definitions:

Predetermined Cost

An estimated cost calculated in advance of production, used for budgeting and cost control purposes.

Negative Effects

Undesirable impacts or outcomes that result from a specific action, event, or set of circumstances.

Wage Incentives

A compensation strategy to motivate employees by linking a portion of their earnings to their performance or productivity.

Journalized

The act of recording transactions in the accounting journal according to proper accounting principles and conventions.