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Managerial Accounting
An accounting practice focused on providing financial information to managers for decision-making, planning, and controlling business operations.
Historical Perspective
A viewpoint that involves looking at current events or situations in the context of historical developments.
Non-Value-Added Activities
Activities that consume resources but do not add value for which customers are willing to pay.
Overhead Costs
General business costs not directly related to creating a product or service, such as rent, utilities, and insurance.
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