Question

cost accounting is an important system developed for
a) shareholders
b) government
c) management
d) financial institutions ​

Answer 1

Answer:

Cost accounting is a process of assigning costs to cost objects that typically include a company's products, services, and any other activities that involve the company. Cost accounting is helpful because it can identify where a company is spending its money, how much it earns, and where money is being lost.

Explanation:

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Answer 2

Answer:

Management is the correct answer. Management is the correct answer because it is the main user of cost accounting since this is used only for the internal users.

Explanation:

Step 1: The cost of producing an item or service may be estimated with the use of a cost accounting system. System types include process costing and task order costing.

Step 2: Cost accounting is useful because it can show how much money a business makes, where it spends it, and where it loses it. Internal cost controls and efficiency are intended to be reported on, examined, and improved through the use of cost accounting.

Step 3: Cost accounting's characteristics include estimating and documenting all expenses related to running the company. All costs are gathered and tracked using the accounting approach, which also serves as a tool for making wise company decisions.

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