Question: QUESTION ONE: a) Explain the following in relation to Cost Accounting, giving two examples each: i. Costing Principles ii. Costing Methods iii. Costing Techniques (6

QUESTION ONE: a) Explain the following in relation to Cost Accounting, giving two examples each: i. Costing Principles ii. Costing Methods iii. Costing Techniques (6 marks) b) Differentiate between the following in relation to Cost Accounting: i. Expense and Unexpired Cost ii. Sunk Cost and Relevant Cost iii. Controllable Cost and Uncontrollable Cost iv. Revenue Centre and Profit Centre v. Cost Unit and Unit Cost (10marks) c) Explain the following terminologies in the context of Cost Accounting: i. Fixed Cost ii. Semi-variable Cost iii. Stepped Cost iv. Curvilinear Variable Cost (4 marks)

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