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3.2. Contract costing is an essential technique used in managerial accounting to track costs and determine profitability in projects. 3.2.1. Discuss the concept of contract

3.2. Contract costing is an essential technique used in managerial accounting to track costs and determine profitability in projects. 3.2.1. Discuss the concept of contract costing and its features. Identify and describe the different types of contracts commonly encountered in contract costing. (5) 3.2.2. Furthermore, analyse the advantages and disadvantages of contracts from the perspectives of both manufacturers and contractees

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