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Provide the answers using your own words: 1. Explain the difference between Cost Accounting and Financial Accounting, and explain what the objectives of Cost Accounting

Provide the answers using your own words: 1. Explain the difference between Cost Accounting and Financial Accounting, and explain what the objectives of Cost Accounting are 2. Explain what the advantages of Cost accounting are 3. List and explain the different elements of Cost in Cost accounting 4. Explain what is meant by depreciation of an Asset and give an example 5. What is meant by overhead costs? Give an example

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