A. is sometimes used as a basis for cost planning and product pricing
B. includes only manufacturing costs incurred over the life of the product
C. includes only manufacturing cost, selling expenses and distribution expense
D. emphasises cost savings opportunities during the manufacturing cycle
Answer: Option A
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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