Differences between the two costing systems
In 4-6 sentences, compare and contrast a process costing system and a job order costing system. In other words, provide both similarities and differences between the two costing systems.
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Larson and Alvarez have decided to form a partnership. They have agreed that Larson is to invest $150,000 and that Alvarez is to invest $50,000. Larson is to devote one-half time to the business.
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