Everything you need to know about application of marginal costing. Marginal costing techniques assist the management in the fixation of the selling price of different products. Marginal cost of a product is the guiding factor in the fixation of selling price. Generally, the selling price of a product is fixed at a level which not only covers the marginal cost [...]
In this article we will discuss about:- 1. Meaning of Index Numbers 2. Features of Index Numbers 3. Steps or Problems in the Construction 4. Construction of Price Index Numbers (Formula and Examples) 5. Difficulties in Measuring Changes in Value of Money 6. Types of Index Numbers 7. Importance 8. Limitations. Meaning of Index Numbers: The value of money does [...]
In this article we will discuss about the concept and methods for time preference of money along with its applications. Concept and Methods for Time Preference of Money: We prefer today's money to that of tomorrow due to our pressing needs for consumption and cost of abstinence from the present consumption, fall in the value of money of tomorrow due [...]