ECONOMICS

Detailed explanation-1: -The least likely objective is D-Sales commission determination as it is a function of sales and marketing and not concerned with cost of production. D-Since Inventory valuation, efficiency measurement & product costing / sales price determination are primary concerns of Cost Accounting.

Detailed explanation-2: -Assisting Shareholders in decision making is not an objective of Cost Accounting.

Detailed explanation-3: -Selling price determination: One of the most important cost accounting objectives is determining the product’s cost. To decide the selling price, product cost and cost per unit of product are important.

Detailed explanation-4: -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-5: -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.