Discussion
In relation to Cost accounting, which of the following statement is incorrect
Answer: C
The incorrect statement is that cost accounting reports operating results and financial position usually at the end of the year. That is a feature of financial accounting, which reports at the end of the accounting year. Cost accounting provides information for planning, control and decision-making, records expenditure objectively according to the purpose for which it is incurred, and prepares its reports and statements as and when management needs them, so the other three statements are correct.
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