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Explain the difference between fixed and variable costs

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Question - Will you explain in full detail the question below?

1) Discuss the importance of a thorough understanding of the balance sheet and statement flow of cash to a comprehensive understanding of the financial performance of an organization.

2) Explain the difference between fixed and variable costs and the impact on decision making of an accurate understanding of the differences. Also, explain the difference between variable costing and absorption costing and the relevance of the difference to operational decision making.

Reference no: EM132046129

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