Practicing Success
Read the given below two statements and mark the correct answer. Assertion (A): Cost accounting assists in analysing the expenditure for ascertaining the cost of various products manufactured or services rendered by the firm and fixation of prices thereof. |
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A). Assertion (A) is true but Reason (R) is False Assertion (A) is false but Reason (R) is true |
Assertion (A) is true but Reason (R) is False |
The correct answer is option 3- Assertion (A) is true but Reason (R) is False. * Reason is false as cost accounting helps in controlling costs not increasing it. Cost accounting assists in analysing the expenditure for ascertaining the cost of various products manufactured or services rendered by the firm and fixation of prices thereof. It also helps in controlling the costs and providing necessary costing information to management for decision-making. |