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Accounting Chapter 1 Discussion Question

The chairman of the board of directors of the
company for which you are chief accountant has
told you that he has little use for accounting
figures based on cost. He believes that
replacement values are of far more significance to
the board of directors than "out-of-date costs."
Present some arguments to convince him that
accounting data should still be based on cost.

Accounting Chapter 1 Discussion Question The chairman of the board of directors of the company for which you are chief accountant has told you that he has littl class=

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Jf334

Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future. ... Cost accounting information is commonly used in financial accounting, but its primary function is for use by managers to facilitate their decision-making.

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