1. In a departmental organization, what is the difference between direct expenses and indirect…

1. In a departmental organization, what is the difference between direct expenses and indirect expenses?

2. Explain the term responsibility accounting and differentiate a profit center from a cost center.

3. What is the difference between FIFO and LIFO inventory control?

4. State the equation for calculating cost of sales and the net cost of sales.

 

 

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