Question

Which of the following is/are the branch of accounting?
(P) Financial Accounting
(Q) Cost Accounting
(R) Management Accounting

• A. (P)
• B. (Q)
• C. (R)
• D. All of the above

Answer 1

The correct option is D All of the above

There are various branches of accounting:

Financial Accounting: This branch deal with the recording of all business transactions , classifying, summarizing and interpreting the financial data to provide the logical information to the management in the form of financial statement.

Cost Accounting: It seeks to ascertain the cost of each product or job produced or undertaken by the business.

Management Accounting: It has the objective of collecting systematically and regularly all such information as will help the management in discharging functions in managerial decision making.