Question

Cost Accounting is one of the subdivision of Management Accounting
O True
O False
​

Answer 1

Cost Accounting is one of the subdivisions of Management Accounting

O True

O False

The correct answer is :

O True

Explanation :

Cost Accounting is one of the subdivisions of Management, It is true.

Cost accounting refers to a form of managerial accounting. The main objective of cost accounting is to show the total cost of production of a national company by estimating the fixed cost along with the variable cost of each stage of production.

Cost accounting is used internally by management to make fully informed business decisions.

Cost accounting considers all input costs associated with production, including both variable and fixed costs.

Unlike financial accounting in cost accounting, there is no need to follow prescribed standards. Cost accounting can be made flexible according to the needs of the management.

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