BUSINESS ADMINISTRATION
ACCOUNTING FOR MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Ascertainment of cost
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Planning and controlling cost
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Decision making
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Observations
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Detailed explanation-1: -Thus, the following are the main objectives of cost accounting: Ascertainment of the cost per unit of the different products that a business concern manufacturers. To correctly analyze the cost of both the process and operations.
Detailed explanation-2: -Assisting Shareholders in decision making is not an objective of Cost Accounting.
Detailed explanation-3: -The main objectives of Cost Accounting are as follows : (i) Ascertainment of cost, (ii) Determination of selling price, (iii) Cost control and cost reduction, (iv) Ascertaining the profit of each activity, (v) Assisting management in decision-making.
Detailed explanation-4: -The main objective of cost accounting are ascertainment of cost, fixation of selling price, proper recording and presentation of cost data to management for measuring efficiency and for cost control and cost reduction, ascertaining the profit of each activity, assisting management in decision making process.