Which of the following statements is NOT true for cost accounting?
A)It is concerned with assigning costs to various cost objects.
B)It attempts to satisfy the costing objectives of both financial accounting and management accounting.
C)It provides cost information that supports planning,controlling,and decision making.
D)It is primarily concerned with producing reports for external users.

Question

Quizplus · Accepted Answer

Cost accounting is primarily concerned with providing cost information to internal users such as managers for planning, controlling, and decision making. It is not primarily concerned with producing reports for external users, which is the role of financial accounting.

Which of the Following Statements Is NOT True for Cost