Cost accounting information is helpful to management in controlling costs but has no effect on pricing decisions.

Question

Quizplus · Accepted Answer

Cost accounting information is not only helpful in controlling costs but also in making pricing decisions. By understanding the cost of manufacturing a product or providing a service, management can set an appropriate price that covers the costs and generates a profit. Moreover, cost accounting information helps in identifying areas where costs can be reduced, leading to more competitive pricing.

Cost Accounting Information Is Helpful to Management in Controlling Costs