Write attempt. What are the advantages of cost.
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when it can produce a product or provide a service at a lower cost than its competitors.
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A company has a cost advantage when it can produce a product or provide a service at a lower cost than its competitors. Companies with this advantage produce in higher quantities and benefit from one or more of the following elements: Access to low-cost raw materials. Efficient processes and technologies. Cost accounting provides us reliable comparison of products and services within and outside an organization with the products and services available in the market. It also helps to achieve the lowest cost level of product with highest efficiency level of operations.
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