Ques 1 write short notes on

• Target costing
• Responsibility accounting
• EOQ
• Balanced scorecard
• Activity based costing
• Life cycle costing
• Economic value added

Ques 2 comment on the following statement

• Cost accounting is an unnecessary luxury for business.
• The term material control and inventory control are synonymous
• Sunk costs are irrelevant for decision making.
• Standard costing are ideal cost .

Ques 3 difference btw

• Financial and cost accounting
• Perpetual inventory system and periodical inventory system .
• Machine hour rate and labour hour rate.