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QU 1 (Exercise 6-13 – Revised) Select one of the following quotes from the text to discuss

Finance

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QU 1

(Exercise 6-13 – Revised) Select one of the following quotes from the text to discuss. Clearly state whether you either agree or disagree with the comment and support your opinion with at least one scholarly resource. 

QU 2

Using Chapter 7 of your text as a reference, define a standard cost and explain what constitutes the components of a standard cost.  Describe the advantages and disadvantages of a standard cost system and explain under what circumstances a standard cost system is most effective.