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Essential to the effective operation of any Cost and Management Accounting system in any business is the ability to define the cost units and cost centres.You are required to:a) Explain the term "cost unit" and illustrate your answer by reference to any businesses that you are familiar with.b) Explain the term "cost centre" and describe how a company will use cost centres in a management accounting system.c) Outline and explain the various works of the management accountant in a typical manufacturing company.
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