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Discuss the distinguishing characteristics, similarities and interrelationships of the terms (1) cost, (2) expense, and (3) loss as used in conformity with US GAAP. What

Discuss the distinguishing characteristics, similarities and interrelationships of the terms (1) cost, (2) expense, and (3) loss as used in conformity with US GAAP. What do the terms period cost and product cost mean? Give examples of each

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