Overview of Cost and Management Accounting

Costing - Phase (I & II)

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Cost accountancy is the science, art and .......... of cost accountant.

Profession

Management

Administration

Practice

Explanation:

Cost accounting is a science, art and practice. It is a science because it is a body of systematic knowledge having certain principles. It is a art because it requires the ability and skill in the application of the principles of cost accountancy to various managerial problems. It is a practice of cost accountancy indicates the continuous efforts of cost accountant to present the details.

By: Vikas Goyal

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