Which Objective Listed Below Is Not a Cost Accounting Objective

question 10

Multiple Choice

Which objective listed below is not a cost accounting objective for the production cycle?

• A)Provide information for planning,controlling,and evaluating the performance of production operations.
• B)Provide cost data about products used in pricing and product mix decisions.
• C)Collect and process the information used to calculate inventory and cost of goods sold amounts that appear in the financial statements.
• D)Provide tests of audit control functions as part of the AIS.

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Definitions:

Company

A legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—enterprise.

Rising Prices

This term indicates an economic situation where the general level of prices of goods and services in an economy increases over a period.

Net Income

The amount of money a company earns after all expenses and taxes have been subtracted from its total revenue.

Inventory Cost

The total cost incurred to procure, produce, and store inventory, including purchase price, production, and handling costs.