meaning Flashcards
1
Q
Total stepped cost
A
stays the same then changes then repeat e.g phone contracts
2
Q
total semi variable costs
A
this will increase at a constant rate as activity increases
3
Q
What does ACCURATE information stand for?
A
Accurate
Cost Beneficial
Complete
Understandable
Relevant
Authorised
Timely
4
Q
What are the three main purposes of management accounting?
A
Planning
Control
Decision Making
5
Q
CVP and purpose
A
Cost volume profit
purpose is lets us see future profits
6
Q
breakeven
A
no making a profit or loss
also known as contribution
7
Q
A
