Given below are two statement. one labelled as Assertion (A) and other as Reason (R):
Assertion (A): Cost accounting is complementary to financial accounting.
Reason (R): The result of cost accounting are not trustworthy.
Choose the correct answer
A. Both (A) and (R) are true and (R) is correct explanation of (A)
B. Both (A) and (R) are true but (R) is not the correct explanation of (R)
C. (A) is true but (R) is false
D. (A) is false but (R) is true
Answer: Option C
Related Questions on Costing
Basic objective of cost accounting is ________
A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
A. hospitals
B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
D. shutdown cost
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