What Do You Understand by the Terms 'Justification Report', 'Progress

question 9

Essay

What do you understand by the terms 'justification report', 'progress report' and 'periodic report'? Briefly discuss three differences between a progress report and a periodic report. When is an incident report written?

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Definitions:

Prefabricated Garages

Buildings for storing vehicles that are manufactured off-site in advance, usually in standard sections that can be easily shipped and assembled.

Marginal Revenue

The additional revenue that a firm receives from selling one more unit of a good or service.

Price Discrimination

A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider in different markets or to different buyers.

Economic Profits

The difference between total revenues and total costs, including both explicit and implicit costs, indicating the financial gain realized when accounting for opportunity costs.