Which of the Following Is True of Cost Accounting

question 1

Multiple Choice

Which of the following is true of cost accounting?

• A) It is a subset of management accounting and therefore its information is used only to meet the needs of managers.
• B) It is used only by manufacturers.
• C) It is part of both management and financial accounting systems.
• D) The distinction between management accounting and cost accounting is clear-cut.

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Definitions:

Scientific Study

The investigation and exploration of phenomena through methodical, empirical, and measurable evidence to establish facts and reach conclusions.

Humanism

A philosophical stance that emphasizes the value and agency of human beings, individually and collectively, and generally prefers critical thinking and evidence over established doctrine or faith.

Potential for Good

The inherent capability or possibility within individuals or situations to bring about positive outcomes or benefits.

Innate

Describes characteristics or abilities that are present in an organism from birth, not acquired or learned through experience.