Cost and management accounting ii questions and answers pdf

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Cost management accounting is a form of accounting that aims to improve a company’s profitability by managing, controlling and eliminating expenses.
Cost accounting helps businesses determine the costs of products, projects and processes, which shows the company where it’s earning and losing money and is an integral part of budget planning.

Multiple costing is a technique of using two or more costing methods for ascertainment of cost by. the same firm. the several firms. the same industry. the several industries. 11.
Wages paid to a labour who was engaged in production activities can be termed as. direct cost. indirect cost. sunk cost. imputed cost. 12.

The professional organization with its primary focus on management accounting is Present and future costs that will differ among alternatives are considered to be costs for making decisions.
Generally, managerial accounting is focused on , control, and internal decision making.