problem 1: Define the term Marginal Costing and differentiate between Marginal costing and Absorption costing.
problem 2: Describe the following pertaining to receivable management:
a) Credit granting policy
b) Credit analysis
c) Credit terms
d) Collection policy
problem 3: List out some functional budgets. Describe the preparation of any of the functional budgets with an illustration.
problem 4: At the end of the year the balances in different accounts of XYZ limited are as follows:
Categorize the accounts into assets and liabilities. Make the balance sheet of XYZ Limited as per the format specified by the Company Act.