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DIFFERENCE BETWEEN JOINT COSTS AND COMMON COSTS

Joint costs are costs incurred in a production process, involving more than one product, up to the point when the products can be separated or distinguished as separate products. Common costs are costs incurred, the benefit of which is enjoyed by more than one cost centre (i.e. unit ) within an organisation. Answers by VICTOR DURODOLA , Nigeria

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Q: What is the difference between joint and common costs?
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