[Solved] Which of the following costing activities is associated with the financial accounting system?

Q.	Which of the following costing activities is associated with the financial accounting system?
A.	determining the cost of a department
B.	determining the cost of goods sold for financial statements
C.	preparing budgets
D.	determining the cost of a customer
Answer» B. determining the cost of goods sold for financial statements

2.4k

Do you find this helpful?

View all MCQs in

Management Accounting

Discussion

No comments yet

Related MCQs

Which of the following statements are true? (a) Marginal costing is not an independent system of costing. (b) In marginal costing all elements of cost are divided into fixed and variable components. (c) In marginal costing fixed costs are treated as product cost. (d) Marginal costing is not a technique of cost analysis.
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.
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
Which of the following activities is NOT associated with the financial accounting information system?
Which statement is true.I)Financial accounts are prepared according to Accounting Standards. II)Management Accounting reports are also prepared according to accounting standard.