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15) are Optional, BONUS questions. MAKE SURE YOU WRITE LEGIBLY! In some cases, the question may ask you to perform some sort of calculation. In

15) are Optional, BONUS questions. MAKE SURE YOU WRITE LEGIBLY! In some cases, the question may ask you to perform some sort of calculation. In these instances, you must show your complete work (formulas used). Your answers to the exam questions must be thorough and complete. Incomplete answers will receive LESS than full credit. 1. REQUIRED QUESTION: Explain in detail the differences between financial and managerial accounting

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