Question

The management accounting can be stated an extension of
A) Cost Accounting
B) Financial Accounting
C) Responsibility Accounting
Options
O Both A and B
O Both A and C
Both B and C
O A, B, C
​

Answer 1

Answer:

The management accounting can be stated an extension of

A) Cost Accounting

B) Financial Accounting

C) Responsibility Accounting

Options

O Both A and B

O Both A and C

Both B and C

O A, B, C

Explanation:

O A, B, C

Answer 2

Answer:

A, B & C

Explanation:

Cost Accounting: -

Cost Accounting is defined as the recording of all costs incurred in a business in a way that can be used to improve its management which is believed to be an essential part of management accounting.

Financial Accounting: -

Financial Accounting is defined as the specific branch of accounting that involves the process of recording, summarizing and reporting the myriad of transactions resulting in business operations over a regulated period, constituting the second most of the management accounting.

Responsibility Accounting: -

Responsibility Accounting is defined as the specific branching of accounting that involves all management principles, budgeting, and internal accounting, thereby concluding with the third and vital part of management accounting.

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