Explain the advantages of a cost accounting system.

Management Accounting Block Revision Mock Exams

a) It helps in cost ascertainment
b) It helps in decision making
c) It allows or ensures disclosure of waste
d) It ensures cost control
e) It ensures planning
f) It enables the setting of selling prices
g) It aids in policy formation
h) It checks the accuracy of financial accounts if differences are revealed.
i) It allows the organization to measure efficiency.

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