Answer each of the following questions, each question carries one mark:

1 - Do you agree that Financial Accounting information must be audited, while Managerial Accounting information can be available to the decision makers without audit? Explain with examples.

2- Explain the meaning of Attention Directing function that is performed by the accountant. Support your answer with at least two examples.

3- Marketing is one of the value chain activities. Explain the meaning of this activity with examples. What is the accountant role in this function?

4- Distinguish among the step and mixed costs. Support your answer with examples.