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Costing - Phase (I & II) Overview of Cost and Management Accounting

…………………. Accounting is not only a positive science but also a normative science because it includes techniques of budgetary control and standard costing.

Financial

Cost

Both of the above

None of the above

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Explanation:

Cost accounting is a science, art and practice. It is a science because it is a body of systematic knowledge having certain principles. Cost Accounting is not only a positive science but also a normative science because it includes techniques of budgetary control and standard costing.