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Short Answer Questions 1. What are the major differences betwee n managerial accounting and financial accounting? 2. Identify three elements of cost incurred in manufacturing

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Short Answer Questions 1. What are the major differences betwee n managerial accounting and financial accounting? 2. Identify three elements of cost incurred in manufacturing a product and indicate the distinguishing characteristics of each. 3. What is the difference between a period cost and a product cost

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