Answered: es may be necessary. keeping in mind…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Cost effectiveness is a factor that needs to be kept in high consideration in decision making. To achieve this, effective cost ascertaiment approaches may be necessary. keeping in mind that changes are taking place in the business environment due to globalization and technology innovation. Discuss the above statement in line with the overall cost accounting philosophy.

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