Cost accounting is a branch of financial accounting true or false
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Ans
False
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Answer:
This is a false assertion.
Explanation:
This is a false assertion.
Management accounting includes cost accounting. Cost accounting is defined as follows: Cost accounting is a technique for recording and reporting the total cost of creating things and providing services.
Cost accounting is the process of allocating expenses to cost items, which often comprise a firm's products, services, and any other activities in which the organisation is involved. Cost accounting is useful because it can show where a company's money is being spent, how much it is earning, and where money is being lost.
The cost accounting technique is a firm-specific, internally oriented approach for estimating cost control, inventory, and profitability. When compared to typical accounting systems, it may be far more adaptable and specialised. The cost accounting's complexity .
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