Many countries or groups of people come into the category of poverty as they cannot afford necessities like proper food or hygienic living conditions. However, poverty can be understood in two different types. The two main types are Absolute and Relative Poverty. There are many differences between the two. Absolute vs Relative Poverty The main …
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An advisor and a broker might seem to be roughly the same for somebody with little to no financial knowledge. However, the roles performed by both of these are very different. It is important to know the difference for anybody who is starting out with their financial journey. A Broker vs An Advisor The main …
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Trading has been a crucial and very popular method when it comes to financing for centuries. Trading has its benefits and some cons as well. However, in today’s time, trading has gained so much popularity that it is not just limited to a small level, but also at a large scale level. Now trading can …
During the production of any product, it is important to know the manufacturing cost of each product. Costing helps the company in strategical and profitable decision-making. It is an important component in determining the total production costs of the product. Activity-Based Costing and Traditional Costing are one of the ways of costing in accounting. Activity-Based …
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Accounting is a way of collecting and recording all kinds of transactions in one place. And the phrase “profit” is a term mainly used in accounting. In business, if the amount spent to manufacture any product is less than the amount received from selling a product, it is called profit. Accounting vs Economic Profit The …
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