Interested to Buy Any Domain ? << Click Here >> for more details...
What is the Difference among COST,PRICE and VALUE?
- 2 Answers
- 5650 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Cost:- Cost refer to Production Cost
Price:- Price include a fixed % of profit
Value :- on a particular time what's the Value for that product.Example:- 100/- is production cost of scientific calculator market price is 120/- including fixed % of profit & other transaction charges, after 1 year its value is Rs/- 50 (excluding depreciation).
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / h.r. sreepada bhagi
Cost (From the view point of a buyer)- Money
spent/expended/paid in acquiring a product or service. Here
cost may be expressed as Purchase Cost, Landed Cost,
Construction Cost, Implementation Cost (Eg. Software) etc.
Cost (From the view point of a seller)- Money spent/expended
in bringing the product in the selling condition & selling
it actually. In case of services all amount spent/expended
in selling/providing a service to a customer.
Price - In commercial terminology, it refers to the value at
which a product or service is offered/sold by a seller to a
customer. price is generally inclusive of Cost+Profit.
Prices are also expressed as MRP, Selling Price, Discounted
Price, etc.
Value - This term has varied meanings from different point
of view as below :
1. Face Value - Eg. Basic or nominal price of Equity Shares
or any other products.
2. Market value - Price at which the market is ready to pay
for a product or a service - Eg. Share of X Company with
Face Value of Rs. 10/- may have a market value of Rs.100-/
or Rs. 1000/- & generally it varies from time to time for
products & services, though not in uniformity for all
products & services.
3. Use Value - Its related to the use of a product or
service to a person. Eg. use value of 3 pens each made of
Gold, Plastic & Metal are the same for a person who wants it
for writing purpose only, but it's different for person who
is a collector of antiques. In other words, it depends up on
how the person uses it.
4. Intrinsic Value - The internal value of a product or a
service - Eg. The Intrinsic Value of a Golden pen is more
than a similar Pen made of Plastic or ordinary metal. Here
the product is valued based on it's content & not the
product meant for.
5. Esteem Value - Some products are possessed to show the
pride or esteem. They may not have any use value. They may
only show pieces, but the possessor of such things hold
those in high esteem and it's very valuable to him.
These terms can have more meanings and connotations for
different persons & from different angles.
| Is This Answer Correct ? | 1 Yes | 0 No |
Discuss the role of cost accounting in managerial decision making?
What are the question asked for accounts associate
how much is the salary for a BANK PO ? how much do you get actuly in hand?
Deposited Rs 25000 in Canara Bank of ABC co towards dealership deposit thru our SBH Bank Pass necessary entry
What is the journal entry for Stale Cheque?
6 Answers College School Exams Tests, TATA,
Why provisions are made & what will be the Journal entry for different types of provisions.
Who can issue form H, & why it is required?
How to prepare monthly P&L and Balance Sheet (I am using Tally 7.)2. Please guide me in detail(step-by-step) from JV to finalization and also how to start on the first day of the next month if we close the books in the previous month.
How many types of depreciation method do you know? name it.
13 Answers Delta Star, Ernst Young,
what is ledger,journal,voucher.
From the following find out a. Profit Volume ratio b. Break even point c. Sales for 40% P/V Ratio d. Margin of safety from the sales Rs 3,00,000 e. Net profit from the sales of Rs 3,00,000 f. Required sales for the new profit of Rs 70,000 g. Required sales for the net profit of Rs 70,,000 after tax, the corporate income tax being 40% h. Additional sales required to convert an increase of Rs 3000 p.a. in the sales manager salary Sale 2,00,000 Variable Overheads 1,50,000 Profit 50000 Fixed overheads 15000 Net profit 35000 Sl No Heads of Account Debit Rs Credit Rs 1 Drawing and Capital 750 15,000 2 Stock as on 01.01.2009 69720 3 Bills Receivable and bills payable 1000 1180 4 Returns 300 320 5 Purchases and Sales 4500 8300 6 Wages 70 7 Discount 30 8 Salaries 200 9 Canara Bank Shares 3000 10 Insurance 120 11 Building 3000 12 Furniture 700 13 Debtors and Creditors 600 1300 14 Cash in Hand 470 15 Overdraft at bank 900
Golden rules of accounting
369 Answers Accenture, Accounting, Ajuba, Birla Tyres, Chartered Accountant, Flextronics, Genpact, Hewitt, HP, Intel, JPMorgan Chase, Northern Transport, Oracle, Scope International, TCS, TransWorld, UCO Bank, WNS,
Audit 
