Broadly speaking,cost accounting can be defined as a(n)
A)external reporting system that is based on activity-based costs.
B)system used for providing the government and creditors with information about a company's internal operations.
C)internal reporting system that provides product costing and other information used by managers in performing their functions.
D)internal reporting system needed by manufacturers to be in compliance with Cost Accounting Standards Board pronouncements.

Question

Quizplus · Accepted Answer

Cost accounting is primarily an internal reporting system that helps managers make informed decisions and perform their functions effectively. It involves the calculation and analysis of costs associated with products, services, or activities. The information provided by cost accounting is used for various purposes such as budgeting, pricing decisions, performance evaluation, and strategic planning. Cost accounting is not primarily focused on external reporting or compliance with regulations.

Broadly Speaking,cost Accounting Can Be Defined as A(n)