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Accounting

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Accounting

1-What are the major differences between managerial accounting and financial accounting? 2-Distinguish between prime costs and conversion costs. 3-What is the difference between a product cost and a period cost? 4-What are the three major objectives of budgeting? 5-Briefly describe the type of human behavior problems that might arise if budget goals are set too tightly. 6-Under what circumstances would a static budget be appropriate?

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