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प्रश्न
State one difference between Historical costs and Predetermined costs.
Distinguish between historical cost and predetermined cost.
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उत्तर
Historical Costs: Historical or original costs are those costs that are ascertained after being incurred.
Predetermined Costs: Predetermined costs are those costs that are estimated or budgeted. These are computed in advance of production on the basis of past experience and other factors.
संबंधित प्रश्न
Abnormal costs are not recorded as part of production cost. Justify for or against.
Give one difference between money cost and real cost.
Give one difference between normal cost and abnormal cost.
Give one difference between product cost and period cost.
"The cost of sugarcane is an avoidable cost." Justify for or against.
Differentiate between expired and unexpired costs.
Write short notes on opportunity costs.
Explain the following Concept:
Out of Pocket Cost
Explain the following:
Notional or imputed cost.
Explain the following:
Replacement cost
