Cost Accounting Basics Quiz

A systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services (correct)

A subset of financial accounting used primarily for tax purposes

A method for recognizing, classifying, and reporting financial costs in detail

A practice used by managers to optimize business practices and processes

To facilitate decision-making for managers (correct)

To optimize business practices and processes

To track the financial costs of a business

To advise management on cost efficiency and capability

Tax accounting

Managerial accounting (correct)

Auditing

Financial accounting

<p>The cost of manufacturing goods and performing services</p> Signup and view all the answers

<p>To optimize business practices and processes</p> Signup and view all the answers