Which of the following best describes cost accounting?
A)Cost accounting serves the needs of both financial and managerial accounting.
B)Managerial accounting is a subset of cost accounting.
C)Financial accounting is a subset of cost accounting.
D)Cost accounting is an alternative to both financial and managerial accounting.

Question

Quizplus · Accepted Answer

Cost accounting provides information that is useful for both financial accounting (external reporting) and managerial accounting (internal decision-making).

Which of the Following Best Describes Cost Accounting