Which of the Following Statements Is NOT True for Cost

question 27

Multiple Choice

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.

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Definitions:

Merger

The combination of two or more companies into a single entity, usually with the aim of enhancing competitiveness or expanding market share.

Revised Model Act

An updated or modified version of legislation that serves as a template for laws across different jurisdictions.

Shareholder Vote

A decision-making process where shareholders of a company vote on corporate matters, reflecting their ownership stake.

Articles of Incorporation

The primary legal document used to establish a corporation, detailing its structure and purpose.