Cost accounting ________.
A) measures the costs of acquiring or using resources in an organization
B) helps managers to develop, communicate, and implement strategies
C) coordinates product design, production, and marketing decisions and evaluate a company's performance
D) communicates information to investors, banks, regulators, and other outside parties

Question

Quizplus · Accepted Answer

Cost accounting measures the costs of acquiring or using resources in an organization. It involves tracking and analyzing costs related to the production and sale of goods or services, with the goal of improving profitability and efficiency.

Option B refers to strategic management, which is a broader business function that encompasses cost accounting as one of its many components. Option C refers to managerial accounting, which is a related field but focuses more on internal decision-making than cost analysis. Option D refers to financial accounting, which involves producing financial statements and other information for external stakeholders.

Cost Accounting ________