Question: Short Answer Questions 1. What are the major differences betwee n managerial accounting and financial accounting? 2. Identify three elements of cost incurred in manufacturing

managerial accounting and financial accounting? 2. Identify three elements of cost incurred

Short Answer Questions 1. What are the major differences betwee n managerial accounting and financial accounting? 2. Identify three elements of cost incurred in manufacturing a product and indicate the distinguishing characteristics of each. 3. What is the difference between a period cost and a product cost

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