Question

"Limitations of financial accounting have made the management to realise the important of cost accounting".Comment

Answer 1

Answer:

importance of management

Helps in ascertainment of cost

Aids in Price fixation

Helps in Cost reduction

Elimination of wastage

Helps in identifying unprofitable activities

Helps in checking the accuracy of financial account

Helps in fixing selling Prices

Importance to Employees

Cost accounting and creditors

importance to National Economy

Data Base for operating policy

Explanation:

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