Which of the Following Types of Organizations Need Cost Accounting

question 32

Multiple Choice

Which of the following types of organizations need cost accounting?

• A) manufacturing firms and service organizations only
• B) service organizations and nonprofit organizations only
• C) manufacturing firms and nonprofit organizations only
• D) all types of organizations

Understand the structure and elements of a formal report.

Comprehend the components and purpose of a proposal.

Recognize the importance and functions of preliminary parts of a report.

Acknowledge the role of credibility in research and report writing.

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Definitions:

Time Value

The time value concept in finance recognizes that money available now is worth more than an identical sum in the future due to its potential earning capacity.

Liquidity

The simplicity of turning an asset into cash without noticeably impacting its market value.

Payback Period

The duration of time it takes to recoup the initial investment in a project or asset, calculated by dividing the investment amount by the annual cash inflow.

Internal Rate

Often refers to the internal rate of return (IRR), a metric used to estimate the profitability of potential investments.