Question: 1 . Cost vs . Expense How are they different? 2 . Accumulating vs . Assigning Costs What do these terms mean? 3 . Cost

1.Cost vs. Expense How are they different?
2.Accumulating vs. Assigning Costs What do these terms mean?
3.Cost Object, Direct Cost, and Indirect Cost Define and give examples.
4.Prime Cost, Conversion Cost, and Manufacturing Overhead What do these terms mean in production?
5.Cost of Goods Manufactured (COGM) vs. Cost of Goods Sold (COGS) How do they differ?
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