Question's Short Description
1: Process of recording and controlling cost 2: Helps in cost ascertainment 3: Used for decision making 4: Internal users focused 5: Includes costing methods
Question's Long Description
1: It measures and reports cost of production
2: Helps management in planning and control
3: Provides data for pricing decisions
4: Reduces wastage and improves efficiency
5: Methods include job costing, process costing, standard costing
