akutansi/ekonomi

What are the basic principles of accounting?

• Revenue Recognition Principle and Tax Compliance Principle

• The basic principles of accounting are the Entity Principle, Going Concern Principle, Matching Principle, Revenue Recognition Principle, and Cost Principle.

• Cost Principle and Inflation Adjustment Principle

• Entity Principle and Profit Maximization Principle

Define the term 'double-entry bookkeeping'.

• An accounting system that only tracks income and expenses.

• A bookkeeping technique that does not require balancing accounts.

• A method that records transactions in a single account.

• Double-entry bookkeeping is an accounting system that records each transaction in two accounts to maintain balance.

What is the purpose of a balance sheet?

• To calculate a company's revenue for the year.

• To summarize a company's cash flow activities.

• To provide a detailed report on employee performance.

• The purpose of a balance sheet is to show a company's financial position by listing its assets, liabilities, and equity.

Explain the concept of 'accrual accounting'.

• Accrual accounting is the same as cash accounting.

• Accrual accounting recognizes revenue and expenses when they occur, not when cash is exchanged.

• Accrual accounting recognizes expenses before they are incurred.

• Accrual accounting only applies to cash transactions.

What are fixed and variable costs in cost accounting?

• Both fixed and variable costs change with production volume.

• Fixed costs vary with production levels, while variable costs remain constant.

• Fixed costs are only incurred during high production periods.

• Fixed costs remain constant regardless of production levels, while variable costs change with production volume.

How do you calculate the break-even point?

• Break-even point = Total Revenue - Total Costs

• Break-even point = Fixed Costs / (Selling Price - Variable Cost)

• Break-even point = Fixed Costs + Variable Costs / Selling Price

• Break-even point = Variable Costs / (Selling Price + Fixed Cost)

What is the difference between direct and indirect costs?

• Direct costs are always higher than indirect costs.

• Indirect costs can be easily calculated for each project.

• Direct costs are shared among multiple projects.

• Direct costs are directly attributable to a project; indirect costs are not directly linked and are shared across projects.

Define microeconomics and its focus areas.

• Microeconomics is the study of individual economic agents and markets, focusing on areas such as supply and demand, consumer behavior, and market structures.

• Microeconomics is concerned with government regulations and fiscal policies.

• Macroeconomics focuses on national economic trends and policies.

• Microeconomics studies global trade and international markets.

What is the law of demand?

• The law of demand states that higher prices lead to higher quantity demanded.

• The law of demand suggests that price and quantity demanded are directly related.

• The law of demand indicates that price and quantity demanded are inversely related.

• The law of demand indicates that quantity supplied increases as price decreases.

Explain the concept of elasticity in economics.

• Elasticity in economics refers to the responsiveness of quantity demanded or supplied to changes in price or other factors.

• Elasticity refers to the physical properties of materials in engineering.

• Elasticity is the measure of a country's economic growth rate.

• Elasticity measures the total quantity of goods produced in an economy.