Which of the Following Differentiates Cost Accounting and Financial Accounting

question 58

Multiple Choice

Which of the following differentiates cost accounting and financial accounting?

• A) The primary users of cost accounting are the investors, whereas the primary users of financial accounting are the managers.
• B) Cost accounting deals with product design, production, and marketing strategies, whereas financial accounting deals mainly with pricing of the products.
• C) Cost accounting measures only the financial information related to the costs of acquiring fixed assets in an organization, whereas financial accounting measures financial and nonfinancial information of a company's business transactions.
• D) Cost accounting measures information related to the costs of acquiring or using resources in an organization, whereas financial accounting measures a financial position of a company to investors, banks, and external parties.

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Definitions:

Reciprocity

denotes a mutual exchange of privileges or benefits between parties, often observed in social and economic contexts.

Persuasion

The process by which one person tries to change the belief, opinion, position, or course of action of another person through argument, pleading, or explanation.

Nonverbal Communication

The process of conveying a message without the use of words, which can include gestures, body language, facial expressions, and other visual cues.

Causal Analysis

The process of identifying and evaluating the factors that cause or contribute to a specific outcome or condition.