Examveda
Examveda

Cost accounting differs from financial accounting in respect of ________.

A. reporting of cost

B. ascertainment of cost

C. control of cost

D. recording of cost

Answer: Option B

Solution(By Examveda Team)

Cost accounting differs from financial accounting in respect of ascertainment of cost. Cost Accounting refers to that branch of accounting which deals with costs incurred in the production of units of an organization. On the other hand, financial accounting refers to the accounting concerned with recording financial data of an organization, in order to exhibit exact position of the business.

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