Question: . What are the primary differences between financial and managerial accounting? 6. What is meant by the term cost ? Define relevant range. Explain the

. What are the primary differences between financial and managerial accounting?

6. What is meant by the termcost?

  1. Define relevant range.
  2. Explain the features and provide examples of fixed and variable costs.
  3. How does the time period affect the estimation of fixed and variable costs?

managerial accounting is the field of accounting that focuses on all levels within the organization and is used internally for decision making, financial accounting focuses on organizational-level data for presentation in business financial statements.

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