Question: QUESTION 1 (10 MARKS) (a) Explain the difference between Financial Accounting and Management Accounting (4 marks) (b) Discuss the differences between direct costs and

QUESTION 1 (10 MARKS) (a) Explain the difference between Financial Accounting and

QUESTION 1 (10 MARKS) (a) Explain the difference between Financial Accounting and Management Accounting (4 marks) (b) Discuss the differences between direct costs and indirect costs. (3 marks) (c) Distinguish between inventoriable costs and period costs by providing examples. (3 marks)

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