{"id":55667,"date":"2024-04-16T00:31:18","date_gmt":"2024-04-16T00:31:18","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=55667"},"modified":"2024-04-16T00:31:18","modified_gmt":"2024-04-16T00:31:18","slug":"given-below-are-two-statement-one-labelled-as-assertion-a-and-other-as-reason-r-assertion-a-cost-accounting-is-complementary-to-financial-accounting-reason-r-the-result-of-cost-accounting","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/given-below-are-two-statement-one-labelled-as-assertion-a-and-other-as-reason-r-assertion-a-cost-accounting-is-complementary-to-financial-accounting-reason-r-the-result-of-cost-accounting\/","title":{"rendered":"Given below are two statement. one labelled as Assertion (A) and other as Reason (R): Assertion (A): Cost accounting is complementary to financial accounting. Reason (R): The result of cost accounting are not trustworthy. Choose the correct answer"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a97072263c16\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    Both (A) and (R) are true and (R) is correct explanation of (A)                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    Both (A) and (R) are true but (R) is not the correct explanation of (R)                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"true\">\r\n                    (A) is true but (R) is false                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    (A) is false but (R) is true                <\/div>\r\n                                                                                                                                                                                                                                                                                                                                                                                                                                                                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: C. (A) is true but (R) is false.<\/p>\n<p>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. Financial accounting, on the other hand, is a branch of accounting that records and reports a company&#8217;s financial performance. It is used to provide information to investors, creditors, and other stakeholders.<\/p>\n<p>Cost accounting and financial accounting are both important for businesses, but they serve different purposes. Cost accounting is used to help businesses make decisions, while financial accounting is used to provide information to stakeholders.<\/p>\n<p>The assertion (A) is true because cost accounting can provide businesses with valuable information that can help them make better decisions. For example, cost accounting can help businesses identify which products are most profitable, <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> which costs can be reduced, and how to allocate resources more efficiently.<\/p>\n<p>The reason (R) is false because the results of cost accounting can be very trustworthy. Cost accounting is a rigorous process that requires businesses to track and analyze a wide range of data. The results of cost accounting can be used to make informed decisions about pricing, production, and other areas.<\/p>\n<p>Therefore, the correct answer is: C. (A) is true but (R) is false.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Subscribe on YouTube<\/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":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Given below are two statement. one labelled as Assertion (A) and other as Reason (R): Assertion (A): Cost accounting is complementary to financial accounting. Reason (R): The result of cost accounting are not trustworthy. 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