Identify compliance costs, both economic and accounting that deal with emergency services.
Identify compliance costs, both economic and accounting that deal with emergency services.
Homework Answers
Compliance cost refer to all those expenses incurred by the firm to adhere to the industry regulations. These costs can include the cost of the systems needed to collect the information for compliance reporting,cost of the personnel needed to monitor the compliance systems and cost to compile and issue reports.
Compliance costs for the emergency services occurs because of various uncertainities or when the companies are not prepared for the incidents through which the employees, operations and profitability can be affected.
Accounting compliance includes the salaries of the employees working in compliance. On the other hand, economic compliance costs include the costs that a company face due to potential changes in current economic regulations and include all the industry specific compliance like environmental assessments, human resources policies etc.
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Identify compliance costs, both economic and accounting that
deal with emergency services.
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The costs economists use in the concept of economic profit are: accounting costs. ) strictly dollar costs, not opportunity costs. opportunity costs, or the value of the best opportunity forgone. both A and C
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