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Cost Accounting 1.0 Explain the differences between traditional cost accounting and activity-based costing (ABC) with proper usage of diagrams if necessary. Please organise your work

Cost Accounting
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1.0 Explain the differences between traditional cost accounting and activity-based costing (ABC) with proper usage of diagrams if necessary. Please organise your work by following the structure (1) definition, (2) how the accounting methods were developed-history and 3 why both methods are different. (Please use relevant journals and books when answering this part of the question. Please also refer to the mark sheet)

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