Question

In the following which is not the branch of Accounting?
A. Financial Accounting
B.Management Accounting
C.Cost Accounting
D.Statistics​

Answer 1

Answer:

Statistics is not a branch of Accounting.

Answer 2

ANSWER :

• Option (D) Statistics

➯ Statistics is not a branch of accounting.

➯ Financial Accounting, Management Accounting and Cost Accounting are the branches of accounting

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EXPLANATION :

• ★ Financial Accounting :- Financial accounting is a branch of accounting which deals with the recording of business transactions in a systematic manner for the purpose of ascertaining the profit earned or loss incurred by the business during an accounting period.

• ★ Management Accounting :- Management accounting is another branch of accounting which is used to present the accounting information such a way as to assist the management in planning and controlling the operations of a business.

• ★ Cost Accounting :- Cost accounting is a branch of accounting which is used to ascertain the total cost and per unit cost of goods produced and services rendered by business as well as it also estimates the cost in advance and helps the management in exercising strict control over cost.

• ★ Statistics :- Statistics is a branch of applied mathematics. It is not a branch of accouting. Statistics involves the collection, description, analysis, interpretation and presentation of quantitative data.