In accounting, the possibility of deviation of actual amount from an expected amount is classified as ___________?
Correct answer: C. uncertainty
- A. contribution
- B. certainty
- C. uncertainty
- D. margin
Explanation
Uncertainty exists when the actual amount may deviate from the expected amount. Certainty means the amount or result is known without such variation.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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