What Was the Main Recommendation of SAP 1 Current Cost

question 8

Multiple Choice

What was the main recommendation of SAP 1 Current Cost Accounting,issued in Australia in November 1983?

• A)That companies disclosed information on profit from continuing operations on a current cost basis for the current financial year
• B)That companies are not required to report historical cost information if they have disclosed current cost information
• C)That companies presented supplementary current cost accounting statements in addition to historical cost financial statements
• D)That companies used current cost for the main financial statements and historical cost as supplementary data

Evaluate the impact of changes in cost structure and sales on a company's financial performance.

Understand and apply the concept of margin of safety and its importance in business.

Compute and analyze contribution margin and contribution margin ratio for single and multiple product companies.

Calculate break-even points in units and dollars for both single and multiple product scenarios.

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