[amp_mcq option1=”To remove the shortcomings of financial accounting” option2=”To remove the shortcomings of managerial accounting” option3=”To overcome the shortcomings of standard costing” option4=”None of these” correct=”option1″]<\/p>\n
The correct answer is: A. To remove the shortcomings of financial accounting.<\/p>\n
Cost accounting is a branch of accounting that tracks and analyzes the costs of a business. It is used to help businesses make decisions about pricing, production, and other areas.<\/p>\n
Financial accounting, on the other hand, is a branch of accounting that focuses on providing information to external users, such as investors and creditors. It is used to assess the financial health of a business.<\/p>\n
Cost accounting originated from the need to provide more detailed information about the costs of a business than financial accounting could provide. This information is used to help businesses make better decisions about how to operate their businesses.<\/p>\n
Here is a brief explanation of each option:<\/p>\n
[amp_mcq option1=”To remove the shortcomings of financial accounting” option2=”To remove the shortcomings of managerial accounting” option3=”To overcome the shortcomings of standard costing” option4=”None of these” correct=”option1″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[952],"tags":[],"class_list":["post-43055","post","type-post","status-publish","format-standard","hentry","category-costing","no-featured-image-padding"],"yoast_head":"\n