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Cost accounting was developed because of the _________.
limitations of the financial accounting
limitations of the management accounting
limitations of the human resource accounting
limitations of the double entry accounting
Cost accounting was developed because of the limitations of the financial accounting. The limitations of financial statements are those factors that a user should be aware of before relying on them to an excessive extent. The following are all limitations of financial statements: Dependence on historical costs. Transactions are initially recorded at their cost.
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