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What are the four functions of management? Describe each of them.
Subsidiary Ledgers
Detailed ledgers that contain information supporting entries recorded in a general ledger, such as accounts receivable or accounts payable details.
Job Order Costing
An accounting methodology used for assigning manufacturing costs to an individual product or batches of products, typically when each product's construction is sufficiently unique.
Process Cost Accounting
A method of accounting used for goods produced continuously, assigning costs to units of output.
Product Costs
The costs directly associated with manufacturing a product, including materials, labor, and overhead costs.
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