Which of the following activities is related to financial accounting? Preparing a cash budget for the coming year Reviewing a cost report with a department manager Deciding which piece of equipment to purchase based on costs and benefits Preparing the quarterly statement of income based on IFRS Question 2 (1 point) The purpose of total quality management (TQM) is to provide customers with superior products and services. Part of TOM is the ability Lo control the costs of quality. One of these cost categories is prevention costs. Which of the following best describes a prevention cost? The cost of automating a production process to reduce errors The cost of refurbishing a notebook computer that lailed inspection before it left the assembly process The cost of repairing a customer's mobile phone that is still under warnanty The cost of repairing the scale that checks to ensure the weight of the product is correct betore it is packaned