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BSNS115 Final Exam Questions And Correct Answers. Verified Solution. Variable Costs Those costs that only occur with production. e.g. raw material, direct labour, manufacturing overhead Fixed Costs Those costs that occur regardless of whether production occurs or not e.g. rent, rates, salary. Accounting The process of identifying, recording, and analysing useful economic information to help the user make decisions. Relevant Range The level of activity over which a particular cost behav...

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3 pages

Written in 2023/2024

Grade A+

StudyHubSolutions

What are the fundamental principles in the accounting code of ethics? - Answer Integrity, objectivity and independence, competence, quality performance, professional behavior What is the formula for total cost? - Answer fixed cost + variable cost What is the name for costs that are partly fixed and partly variable? - Answer semi-variable or mixed costs What are some typical variable costs? - Answer Raw materials, Direct Labour (wages), factory water, light, electrici...

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5 pages

Written in 2025/2026

Grade A+

COCOSOLUTIONS

BSNS115 Exam Questions With Correct Answers

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9 pages

Written in 2025/2026

Grade A+

Lectphilip

BSNS115 Final Exam Questions With Correct Answers

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27 pages

Written in 2025/2026

Grade A+

Lectphilip

Bsns115 Exam Questions With Correct Answers

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105 pages

Written in 2025/2026

Grade A+

Lectphilip

Comparative information - Answer allows users to see how firm's financial position has changed between current and past financial periods cash basis - Answer only when actual cash moves Accrural basis accounting - Answer recorded in the period the transaction occurs regardless of whether cash moves Net assets= - Answer OE Management accounting - Answer classified by the way it behaves Finc accounting - Answer classified by nature or function Tot...

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13 pages

Written in 2025/2026

Grade A+

COCOSOLUTIONS

Creating a budget is: - Answer part of the management accounting process Recording cashflow is - Answer part of the financial accounting process the financial statements - Answer -can be called by multiple names - can differ in terms of their title by company - are made up of several parts accounting is - Answer - the language of business - used to provide information for users - a tool for decision making 1. Which of the following is not a limitation of ac...

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12 pages

Written in 2025/2026

Grade A+

COCOSOLUTIONS

unlimited liability - Answer the responsibility of business owners for all of the debts of the business limited liability - Answer when a business is unable to pay debts, responsibility is on the business’s investments assets - Answer anything the firm owns that generates profit current-assets - Answer cash and other assets expected to be exchanged for cash or consumed within a year non-current assets - Answer Items that a business owns and which it expects...

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14 pages

Written in 2025/2026

Grade A+

COCOSOLUTIONS

What are the 5 Information Systems components - Answer Hardware Database People Software Network 8 Big Data Challenges - Answer Capture Curation Storage Search Sharing Transfer Analysis Visualization What are the 5 Competitive Forces - Answer New market entrants Suppliers threat Customers threats Competition Substitute products / services Iaas - Answer Infrastructure as a service Paas - Answer Platform as a service Saas - Answer Softwar...

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10 pages

Written in 2025/2026

Grade A+

COCOSOLUTIONS

What is accounting? - Answer Accounting provides a method of systematically recording and evaluating business activities Stewardship - Answer The more traditional role of providing accountability reports of transactions for a given period Decision Usefulness - Answer The more recent role of assisting users with making informed choices about the allocation of scarce resources What is the difference between Internal and External Users - Answer Internal users work withi...

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5 pages

Written in 2025/2026

Grade A+

COCOSOLUTIONS

LEARNING OBJECTIVE What are the two things you should know in this Module? (2 items) - Answer 1.) Explain Depreciation, Accumulated Depreciation, and Different Depreciation Method 2.) Outline the effect that accounting policy, estimates, and judgements can have on the financial Statements What are two items that help explain the concept of depreciation? - Answer 1. ) It is a further result of accrual basis 2.) Amount charged in an accounting year is not the amount paid in the yea...

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4 pages

Written in 2025/2026

Grade A+

COCOSOLUTIONS

What is ethics in depth - Answer It's about understanding how your actions affect others Knowing what is right and wrong Taking personal responsibility for your actions It is NOT the law - even though what is ethical may or may not be legal Ethics is based on cultural, religious, and societal values. What may be ethical in one place may be unethical somewhere else. Since there is no standard what is ethical or unethical may also vary from one individual to another What is algo...

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55 pages

Written in 2025/2026

Grade A+

COCOSOLUTIONS

BSNS115 Final Exam Questions And Correct Answers. Verified Solution. Variable Costs Those costs that only occur with production. e.g. raw material, direct labour, manufacturing overhead Fixed Costs Those costs that occur regardless of whether production occurs or not e.g. rent, rates, salary.

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3 pages

Written in 2023/2024

Grade A+

MedTestPro

BSNS115 Final Exam Questions And Correct Answers. Verified Solution. Variable Costs Those costs that only occur with production. e.g. raw material, direct labour, manufacturing overhead Fixed Costs Those costs that occur regardless of whether production occurs or not e.g. rent, rates, salary. Accounting The process of identifying, recording, and analysing useful economic information to help the user make decisions. Relevant Range The level of activity over which a particular cost behav...

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3 pages

Written in 2023/2024

Grade A+

TheInstructor

BSNS115 Final Exam Questions And Correct Answers. Verified Solution. Variable Costs Those costs that only occur with production. e.g. raw material, direct labour, manufacturing overhead Fixed Costs Those costs that occur regardless of whether production occurs or not e.g. rent, rates, salary. Accounting The process of identifying, recording, and analysing useful economic information to help the user make decisions. Relevant Range The level of activity over which a particular cost behav...

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3 pages

Written in 2023/2024

Grade A+

Topscorer1