Very short answer type questions (Pl. write a line or two in support of your answer wherever asked) a. Depreciation is period expense for a financial statement purpose (Right/wrong) Briefly explain your answer. b. Distinguish between cost and expense c. Unallocatble costs are those which may be allocated to some products but not on all products manufactured by a firm (Right/ wrong) Briefly explain your answer. d. Qualitative factors generally favor making over buying a component (Yes/No) Briefly explain your answer. e. Contribution approach is better as compared to absorption approach to work out the profit/loss of a product/service Briefly explain your answer. (Right/wrong) - 1x5 = 5