Question

A cost accounting system: (Check all that apply.) is used to control costs of manufacturing activities. is used only with a perpetual inventory system. provides general information used by investors. helps managers' determine selling prices.

Answer 1

Answer:

is used to control costs of manufacturing activities

helps managers determine selling prices

Explanation:

A "cost accounting system" allows a business to examine its costs. The information of these costs are then collected in order to help the company control its costs and come up with an estimate of their product's cost. An accurate cost allows a company to be profitable. So, this allows the managers to determine selling prices. Costs regarding manufacturing activities are also taken into consideration.

The cost accounting system is not only used with a perpetual inventory system. It can also be used with a periodic inventory system. It does not necessarily provide a general information used by investors, rather it provides an internal information. It can also adapt according to the needs of the company. Financial accounting provides information to the outside investors.