Question

Cost may be classified in a variety of ways according to their nature and the information needs of the management

Answer 1

Answer:

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Explanation:

Cost classification can be done in various ways depending on its nature and a specific purpose. There are various types of costs classified into logical groupings. ... These classifications of costs make the cost information meaningful. It is of utmost importance to the management of a manufacturing concern.

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Answer 2

Answer:

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