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1) What are Break-even Point and Margin of Safety in CVP analysis? (Ref: Chapter 18) 2) Briefly describe any TWO characteristics of relevant costs as

1) What are "Break-even Point" and "Margin of Safety" in CVP analysis? (Ref: Chapter 18) 2) Briefly describe any TWO characteristics of relevant costs as the basis of making business decisions by managers. (Ref. Chapter 19)

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