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Question 4 Business decisions rely on certain characteristics which are based on intelligent and well-informed decisions. Explain in detail these characteristics. Classification of costs may

Question 4

  1. Business decisions rely on certain characteristics which are based on intelligent and well-informed decisions. Explain in detail these characteristics.

  2. Classification of costs may be based on the information needs of management and their nature. Briefly explain the classification required for various purposes with appropriate examples.

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