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What are the differentiate freight-in from freight out?
Frieght in is when paid at time of goods purchased while freight out is when paid at the time of sales of products.
What is Hire-Purchase System characteristics?
There are some salient characterisitics to the Hire-Purchase System. The cash price of goods is paid in installment on agreed terms. The title to goods passes on last payment. The Hire Vendor (Seller) can take possession of goods if Hirer fails to pay an installment. The Hirer is not responsible for risk of loss of goods, till the ownership is transferred. The Hirer cannot mortgage, hire or sell or pledge the goods. The Hirer has got a right to terminate the agreement at any time before the property so passes.
How much does a baker get paid in a week?
Bakers weren't paid by the week or even the month. If they baked for the King that was their job and they didn't get paid. They could have sold bake goods to the local monastery or market so what they earned is what they made. There wasn't "salary" in this time in history.
Why cost of goods is higher under LIFO?
Because the price of goods tends to increase over time, the last in is usually the most expensive, hence in LIFO (LAST in FIRST out) the most expensive items are the ones expensed first.
What does sale on account mean?
A sale "on account" would usually refer to a transaction where goods or services are transferred (sold) to a customer (buyer) on credit terms (to be paid for later at a specific time).
What is a tax based on the price of goods and paid at the time of purchase?
A tax based on the price of goods and paid at the time of purchase is a sales tax.
Does an executor get paid for the sale of a property based on time of death value or actual sell price?
The executor normally doesn't get paid based on the sale of property. The law normally allows them to choose a time for the basis of value.
What refers to a measure of the average change over time in the prices paid by urban consumers for a market basket of goods and services?
Consumer Price Index (A+)
What are the differentiate freight-in from freight out?
Frieght in is when paid at time of goods purchased while freight out is when paid at the time of sales of products.
What is the full form of CPI?
The full form of CPI is Consumer Price Index. It is a measure that examines the average change in prices paid by consumers for goods and services over time, used to gauge inflation.
What is the consumer price index used for?
It is used for measuring inflation. It will track a basket of goods over a period of time measuring the cost along the way. The rise and fall of inflation is based on the consumer price index.
What is measures changes in the prices of goods and services?
In the United States the changes in the price of goods & services is measured by the "Consumer Price Index". This is a summary of what is termed a "bread basket" of items that are measured by the Department of Labor. A certain weight to items in the bread basket is given by Labor Dept. economists. From time to time the items in the CPI (consumer price index ) are changed based on economic formulae.
What measures changes in the prices of goods and services?
In the United States the changes in the price of goods & services is measured by the "Consumer Price Index". This is a summary of what is termed a "bread basket" of items that are measured by the Department of Labor. A certain weight to items in the bread basket is given by Labor Dept. economists. From time to time the items in the CPI (consumer price index ) are changed based on economic formulae.
Actual cost of goods higher than cogs?
There will probably be a discrepancy if the statements use LIFO or FIFO. For instance, if a company uses LIFO and the price of the input was cheaper at an earlier time, then the COGS might be lower than the price paid for inputs during that time period and vice versa.
What is the difference between time rate and piece rates?
On time rate you are paid for the number of hours worked. On piece rate you are paid for the quantity of goods you produce.
A measurement that shows how the average price of a standard group of goods changes over time is referred to as the .?
Price Index
A time of decline in general price levels of goods and services and the value of money is stronger?
Deflation is a decline in general price levels of goods and services and a stronger value in money.
