The correct answer is D. Tax planning.
Cost accounting is a branch of accounting that focuses on the measurement, analysis, and reporting of costs. It is used to help businesses make informed decisions about pricing, production, and other areas.
Cost accounting can be used for a variety of purposes, including:
- Pricing: Cost accounting can be used to determine the cost of goods sold, which is a key factor in setting prices.
- Production: Cost accounting can be used to track the costs of production, which can help businesses identify areas where costs can be reduced.
- Decision-making: Cost accounting can be used to provide information that can help businesses make informed decisions about pricing, production, and other areas.
Tax planning is the process of identifying and taking advantage of tax breaks and deductions. It is a complex area of law, and it is important to consult with a tax professional to ensure that you are taking advantage of all of the available options.
Tax planning is not a part of cost accounting. Cost accounting is concerned with the measurement, analysis, and reporting of costs, while tax planning is concerned with identifying and taking advantage of tax breaks and deductions.