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1.What is CVP analysis (CO C)? Why is CVP analysis useful? Why is it an important concept in managerial accounting? 2.Despite the assumptions of the

1.What is CVP analysis (CO C)? Why is CVP analysis useful? Why is it an important concept in managerial accounting?

2.Despite the assumptions of the CVP tool, within the relevant range of activity, CVP analysis is a close enough approximation to make this tool very valuable.

What does the term relevant range of activity mean?

3.Please describe the difference between variable costing and absorption costing. Which type of costing is more useful in your opinion? Do you feel that absorption costing inflates profits? are these profits "real"?

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