The non-financial and financial aspects of the plan by the company management, is classified as ___________?
Correct answer: C. budget
- A. complexity
- B. process
- C. budget
- D. batching
Explanation
A budget is a formal plan expressed in financial and, where relevant, non-financial terms, such as units of production or labour hours. Complexity, process and batching describe other concepts, not the plan itself.
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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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