Financial accounting
Cost accounting
Both A and B
None of these
Answer is Right!
Answer is Wrong!
The correct answer is: B. Cost accounting
Cost accounting is a branch of accounting that focuses on the measurement, analysis, and reporting of costs. It is used to help businesses make decisions about pricing, production, and other areas.
Financial accounting, on the other hand, is a branch of accounting that focuses on the preparation of financial statements for external users, such as investors and creditors. It is not concerned with the measurement and analysis of costs.
Therefore, cost accounting is the correct answer to the question.
Here is a brief explanation of each option:
- Financial accounting is a branch of accounting that focuses on the preparation of financial statements for external users, such as investors and creditors. It is not concerned with the measurement and analysis of costs.
- Cost accounting is a branch of accounting that focuses on the measurement, analysis, and reporting of costs. It is used to help businesses make decisions about pricing, production, and other areas.
- Both A and B is not the correct answer because cost accounting is not a post mortem of past costs. Cost accounting is a tool that can be used to help businesses make decisions about the future.
- None of these is not the correct answer because cost accounting is a real and important branch of accounting.