General accounting

General accounting

Use this category for general accounting terms.

Industry: Accounting

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General accounting

incorrect rejection

Accounting; General accounting

A type of sampling risk associated with auditing compliance and effectiveness of control procedures for a business or organization. Incorrect rejection means that the auditor may decide a certain ...

increasing costs

Accounting; General accounting

Occurs when average costs of a business rise along with the level of output.

increasing marginal returns

Accounting; General accounting

An improvement in the quantity produced by a business that typically occurs over the short term when the amount of a variable input is initially added to a fixed input.

increasing opportunity cost

Accounting; General accounting

Larger sacrifice of an alternative good caused by an increasingly greater production of another good in a firm or economy, where resources are already being fully and efficiently used.

increasing return to scale

Accounting; General accounting

Increase in output that is proportionally greater than a simultaneous and equal percentage change in the use of all inputs, resulting in a decline in average costs.