Assertion (A) In integrated accounting system, there is no need of reconciliation of cost accounting profit and financial accounting profit. Reason (R) Only one set of books provide information for the ascertainment of c
CS Executive · Cost and Management Accounting · PYQS · December 2016
Assertion (A) In integrated accounting system, there is no need of reconciliation of cost accounting profit and financial accounting profit. Reason (R) Only one set of books provide information for the ascertainment of cost as well as preparation of a balance sheet as per legal requirement. Select the correct answer from the options given below —
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Cost Accounting
Related Questions in this Topic
- Which of the following is not included in cost accounts ?
- Besides the management, __________ and __________ are also benefitted in many ways by installing a good cost accounting ...
- Which of the following items is not included in Cost Accounts ?
- Cost Accounting is mostly __________ in its approach.
- Statement I: Although the Law of supply and demand to a great extent determine the price of an article, cost to the prod...