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Describe one advantage and one disadvantage of using actual costing in a job costing system.
Small Business Owners
Individuals who own and operate businesses that are typically smaller in scale in terms of revenue, employees, and operations.
Business Running
The day-to-day operations and management of a business to ensure it functions efficiently and meets its goals.
Capital Equipment Assets
Long-term physical assets purchased for manufacturing, production, or other business operations.
Current Assets
Assets that are expected to be converted into cash, sold, or consumed within one year or within the normal operating cycle of a business.
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