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Accounting : Please explain briefly 1.Explain the difference in cost breakdown between a traditional format income statement and a contribution format income statement? What benefit

Accounting : Please explain briefly

1.Explain the difference in cost breakdown between a traditional format income statement and a contribution format income statement? What benefit do you see in using one over the other? Which format is required by GAAP?

2..What are the difference between traditional income statement and contribution income statement?

3.compare direct cost and indirect cost

4.what is the significance of balance sheet?

please answer all of them.

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