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Rounding off and abbreviations

Wwahab1113y ago
To how many decimal places do we need to round figures in f5 exams .
Can we use abbreviations in exam , for an instance: f.c in place of fixed costs , r instead of revenue, P-x instead of product xerox and I.S instead of INCOME STATEMENT?
John MoffatJohn MoffatTutor13y ago#1
For rounding, it really depends on the question. Usually costs per unit should be to the nearest cent, and total costs should be to the nearest $.

You can use standard abbreviations, but not the examples you give - they are not standard.
Wwahab1113y ago#2
can you tell me what are standard allowable abbreviations , in general , and how to know what are they , and in specific , can you tell me what are standard allowable abbreviations for examples I have given. and what do you mean by nearest cent ,for example for 57.83694?
John MoffatJohn MoffatTutor13y ago#3
There is no list of standard allowable abbreviations. Anything is allowed provided it is clear what they mean. For example, Inc Stat. would obviously be Income Statement. Fixed o/h's is obviously fixed overheads. But just one word abbreviations as you suggest mean nothing.
If in doubt then best to write in full.

Nearest cent means exactly that. So, if something came to $24.456 then you would write $24.46
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