Question: a. Explain the differences between: i. Financial and management accounting. ii. Direct and indirect costs. iii. Incremental and marginal costs. b. Define manufacturing cost and

a. Explain the differences between:

i. Financial and management accounting.

ii. Direct and indirect costs.

iii. Incremental and marginal costs.

b. Define manufacturing cost and non-manufacturing costs and explain how these costs should be recorded.

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