Activity-based costing definition

An activity-based costing system (also known as ABC System) is a two-stage procedure for assigning overhead costs to products, which focuses on the major activities performed in the production process. However, as the percentages of indirect or over... Read more

What is a Rebate on a Car?

Chase serves millions of people with a broad range of products. Chase online lets you manage your Chase accounts, view statements, monitor activity, pay bills or transfer funds securely from one central place. For questions or concerns, please conta... Read more

What Is a Contra Asset?

Accounting software can simplify the management of and reporting from your ledger. With the appropriate level of automation integration in your chosen tool, you can pull the relevant values into these individual accounts directly from invoices, cre... Read more

Contingent liability definition

The principle of prudence is a crucial principle that states that a company must not record future anticipated gains into the books of accounts, but any expected losses must be accounted for. A warranty is another common contingent liability because... Read more