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1. How does cost accounting and financial account differ? Explain with the help of relevant examples.
2. Which of the following does not represent the effective control? Justify your answer.
a. periodically measuring and comparing company results.
b. assigning responsibility for costs to employees responsible for those costs.
c. constantly monitoring employees to ensure they do exactly as they are told.
d. taking necessary corrective action when variances warrant doing so.
Answer & Explanation
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