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1) What is Break-even Point and Margin of Safety in CVP analysis? (Ref: Chapter 18) 2) Relevant cost concept is used by managers for decision

1) What is "Break-even Point" and "Margin of Safety" in CVP analysis? (Ref: Chapter 18) 2) Relevant cost concept is used by managers for decision making. Provide any two characteristics of relevant costs. (Ref: Chapter 19)

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