Question: 1. Are cost allocation and cost assignment the same? Explain your answer 2. What is a cost driver and why is it important? 3. Differentiate

1. Are cost allocation and cost assignment the same? Explain your

1. Are cost allocation and cost assignment the same? Explain your answer 2. What is a cost driver and why is it important? 3. Differentiate activity-based cost driver and volume-based cost driver

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