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Explain these questions with PARAPHRASING: 1. What is process costing and how it differs from activity-based costing? 2. In what circumstances that process costing is

Explain these questions with PARAPHRASING:

1. What is process costing and how it differs from activity-based costing?

2. In what circumstances that process costing is more suitable?

3. Does activity-based costing only applicable in manufacturing businesses?

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