1.Explain what type of business would classify vehicles as Finished goods inventory. Your answer should include a description of what the term inventory means.

2. Is a sunk cost a relevant cost in decision making? Explain by defining what a sunk cost is

3. Explain a difference between Management accounting reporting and Financial accounting reporting.

4. Describe the difference between product costs and operating costs. Use examples to support your answer.

5. Explain why job costing is not always an accurate measure of the cost of producing goods.

6.Describe the difference between direct costs and indirect costs. Give an example of each. .