Cost Accounting and Useful Information Quiz

To ascertain the cost of production on a per unit basis

To determine the cost of production on a scientific basis

To locate wastages, inefficiencies and other loopholes in the production processes

To present relevant data to management for decision making (correct)

Relevance and reliability (correct)

Verifiability and representational faithfulness

Predictive value and feedback value

Timeliness and neutrality

Verifiability

Representational faithfulness (correct)

Predictive value

Timeliness