Which statement is true.
I)Cost records are compulsory in all industries.
II)Management accounting records are compulsory by law.

Related MCQs

• Which of the following statements are false about management accounting? (i) Management accounting is concerned with historical events. (ii) Management accounting is related only with such instances which can be expressed in monetary terms. (iii) Management accounting is a part of Financial Management (iv) Management accounting information can be disclosed to outsiders.
• Which of the following is true about management accounting? A) Management accounting is associated with presentation of accounting data. B) Management accounting is extremely sensitive to investors needs.
• Which of the following is true about management accounting? (i) Management accounting is associated with presentation of accounting data. (ii) Management accounting is extremely sensitive to investors needs.
• Which statement is true.I)Financial accounts are prepared according to Accounting Standards. II)Management Accounting reports are also prepared according to accounting standard.
• The management accounting can be stated an extension of A) Cost Accounting B) Financial Accounting C) Responsibility Accounting
• The management accounting can be stated an extension of (i) Cost Accounting (ii) Financial Accounting (iii) Responsibility Accounting
• Which of the following are tools of management accounting? A) Decision accounting B) Standard costing C) Budgetary control D) Human Resources Accounting
• Which of the following are tools of management accounting? (i) Decision accounting (ii) Standard costing (iii) Budgetary control (iv) Human Resources Accounting
• The management accounting can be stated an extension of I)Cost Accounting II)Financial Accounting
• Management Accounting is and financial accounting differ in that management accounting information is prepared –