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Describe what happens to the net income of a company under each of the following assumptions (a) Sales volume is less than break-even sales, (b)

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Describe what happens to the net income of a company under each of the following assumptions (a) Sales volume is less than break-even sales, (b) Sales volume is greater than break even sales, (c) Sales volume is equal to the break-even point Identify and explain the primary differences between fixed and flexible budgets

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