1 describe the difference between direct and, Financial Accounting

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1 describe the difference between direct and

1. Describe the difference between direct and indirect materials. Give examples of each for a manufacturing company of your choice.

2.In your own words, describe the four levels of production activities and why they are important.

3. Will a company use LIFO for tax reporting and FIFO for external reporting? Why?

4. What two conditions must be met for a company to identify revenue?

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Financial Accounting: 1 describe the difference between direct and

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