Question

A system of accounting for production operations that provides managers with information to control costs and set selling prices is called a(n):

Answer 1

The answer is Cost Accounting system because it is system of accounting for production operations that provides managers with information to control costs and set selling prices.

What is Cost Accounting?

Cost Accounting system refers to some set of methods a company's management employ to record and report measurements of the cost use to produce goods and some services carried out in detail. It involves procedures use to recognize, classify, allocate, sort and record costs incured and comparing them with standard costs.

Therefore, The answer is Cost Accounting system because it is system of accounting for production operations that provides managers with information to control costs and set selling prices

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