Question

costing is a reality pricing is a policy "comment"

Answer 1

Answer:

cost is the price to produce or prepare a product

Price is the value which you paid to buy a thing

Explanation:

Cost is a reality because it is the actual value

but,Price includes profit and all types of tax.

Answer 2

We are provided with the statement that costing in reality pricing is a policy that we have to comment on. The explanation of costing is a policy is as under:

• Costing aims at analyzing and reporting the costs of the company.
• When the costs are controlled there will be efficiency in the company.
• So it deals with a system of operational analysis for the management.
• It consists of implementing the standards of costs for material and labor.
• It helps in preparing the cost of goods sold and production reports.
• It helps in reconciling stock of raw materials, work-in-progress and finished goods.
• So in short costing is a systematic set of procedures and policies which led to the recording and reporting of the reality pricing.

PROJECT CODE: #SPJ2

Learn more about cost here:

https://brainly.in/question/11789004

https://brainly.in/question/23281016