COST ACCOUNTING
INTRODUCTION TO COST ACCOUNTING
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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: -Objectives of Cost Accounting – Cost Ascertainment, Cost Control, Decision-Making and Fixation of Selling Price.
Detailed explanation-4: -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.