COST ACCOUNTING
INTRODUCTION TO COST ACCOUNTING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
ascertainment of cost
|
|
|
determination of selling price
|
|
|
cost control and cost reduction
|
|
|
assisting shareholders in decision making
|
|
|
both (a) and (b)
|
Detailed explanation-1: -Assisting Shareholders in decision making is not an objective of Cost Accounting.
Detailed explanation-2: -To provide information about the private assets and liabilities of the proprietor is not an objective of accounting. Accounting is the process of recording the financial deals of a business undertaking.
Detailed explanation-3: -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-4: -The main objective of cost accounting is to ascertain the cost of goods and services.
Detailed explanation-5: -Objectives of Cost Accounting – Cost Ascertainment, Cost Control, Decision-Making and Fixation of Selling Price.