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Managerial Accounting
The process of identifying, measuring, analyzing, interpreting, and communicating financial information to managers for pursuing an organization's goals.
Business Organizations
Entities formed to conduct commercial activities, ranging from sole proprietorships to corporations with various operational and legal structures.
Direct Materials
Raw materials that are directly traceable to the manufacturing of a product and represent the primary components of a finished product.
Finished Goods
Refers to products that have completed the manufacturing process but have not yet been sold or distributed to end customers.
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