Which branch of accounting provides information to help the management of a firm evaluate production costs and efficiency ?
Correct answer: B. Cost Accounting
- A. Efficient Account
- B. Cost Accounting
- C. Ultra-country economic risk
- D. Outcome risk
Explanation
Cost accounting supplies management with information about production costs, cost control, and operating efficiency. This helps managers set prices, reduce waste, and evaluate performance.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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