and place your selection in the appropriate space on the answersheet 1. which of the following differentiates cost accounting and financial accounting? a. The primary users of cost accounting are the investors, whereas the primary users of financial accounting are the managers. b. Cost accounting deals with product design, production, and marketing strategies, whereas financial accounting deals mainly with pricing of the products. Cost accounting measures only the financial information related to the costs of acquiring fixed assets in an organization, whereas financial accounting measures financial and nonfinancial information of a company's business transactions. a d. Cost accounting measures information related to the costs of acquiring or using resources an organization, whereas financial accounting measures a financial position a company to investors, banks, and external parties. 2. Maize Plastics manufactures and sells 50 bottles per day. Fixed costs are S30,000 and the variable costs for manufacturing 50 bottles are $10,000. Each bottle is sold for $1,000. How would the daily profit be affected if the daily volume of sales drop by 10%? a. profits are reduced by $4,000 b, profits are reduced by $1,000 c. profits are reduced by $5,000 d. profits are reduced by $6,000 3. Cost A is a fixed cost, while B is a variable cost. During the current year, the volume of output has decreased. In terms of cost per unit of output, we would expect that: a. cost A has remained unchanged b. cost B has decreased c. cost A has decreased d. cost B has remained unchanged