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How does an IPO work?
Direct Labour Budget
A financial plan that estimates the cost of direct labor required to meet production goals.
Selling
The process of promoting and selling goods or services, including marketing and advertising strategies.
Administrative Expense
Expenses incurred in the process of running a company that are not directly tied to a specific product or service, such as salaries of senior executives.
Responsibility Accounting
A system of accountability in which managers are held responsible for those items of revenue and cost—and only those items—over which they can exert significant control. The managers are held responsible for differences between budgeted and actual results.
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