Cost accounting is mcq

  • What is MCQ in accounting?

    MCQs on "Accounting ": Find the multiple choice questions on "Accounting", frequently asked for all competitive examinations..

  • The main objective of cost accounting is to ascertain the cost of goods and services.

What is cost accounting?

Cost Accounting is the process of tracking, recording, and analyzing the costs associated with a particular business activity or enterprise.
Cost Accounting enables businesses to make informed decisions about where to allocate their resources to maximize profits.

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Why is identifying and allocating common costs important?

Identifying and appropriately allocating common costs is important for cost accounting and financial analysis purposes.
It allows for a more accurate understanding of the costs associated with different departments or cost objects, enabling better decision-making and cost control within the organization.


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