Cost Accounting has been developed because of ____________ of financial accounting.

Limitations

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Advantages

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Both A and B

No worries! We‘ve got your back. Try BYJU‘S free classes today!

None of the above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A Limitations
Financial accounting is the oldest branch of accounting but it also has some limitations. Cost accounting was developed to find the solutions of some of the limitations of financial accounting.

Suggest Corrections

Similar questions

Accounting records business transactions and events which are of a financial nature.Is this a limitation of accounting?

Which concept is the reason behind accounting the cost of a small calculator as an expense and not as an asset in financial statements of a business entity?

Q. Financial Accounting states the _______ position of a concern.

Which basis of accounting gives a correct picture of operating results and financial position of a firm?

Q. ______________ accounting is not only a positive science but also a normative science because it includes techniques of budgetary control and standard costing.

Join BYJU'S Learning Program

Cost Accounting has been developed because of ____________ of financial accounting.

The correct option is A LimitationsFinancial accounting is the oldest branch of accounting but it also has some limitations. Cost accounting was developed to find the solutions of some of the limitations of financial accounting.

The correct option is A Limitations
Financial accounting is the oldest branch of accounting but it also has some limitations. Cost accounting was developed to find the solutions of some of the limitations of financial accounting.