The correct answer is: A. Costing and cost accounting are not the same.
Costing is the process of determining the cost of a product or service. It involves identifying and measuring all of the costs associated with producing or providing the product or service. Cost accounting is the process of recording, analyzing, and reporting costs. It uses the information from costing to help managers make decisions about pricing, production, and other aspects of the business.
Costing and cost accounting are closely related, but they are not the same thing. Costing is a necessary part of cost accounting, but cost accounting is more than just costing. It also involves analyzing and reporting costs, which can be used to make decisions about the business.
Here is a brief explanation of each option:
- Option A: Costing and cost accounting are not the same. This is the correct answer. Costing is the process of determining the cost of a product or service, while cost accounting is the process of recording, analyzing, and reporting costs.
- Option B: Costing and cost accounting are one and the same. This is incorrect. Costing is a necessary part of cost accounting, but cost accounting is more than just costing. It also involves analyzing and reporting costs, which can be used to make decisions about the business.
- Option C: Costing and cost accounting are not related at all. This is incorrect. Costing and cost accounting are closely related, but they are not the same thing. Costing is a necessary part of cost accounting, but cost accounting is more than just costing. It also involves analyzing and reporting costs, which can be used to make decisions about the business.
- Option D: None of these. This is incorrect. The correct answer is A.