Method of estimation of cost function, by making opinions and analysis about cost and cost drivers is classified as
A. conference method
B. inference method
C. pricing method
D. manufacturing method
Answer: Option A
Solution(By Examveda Team)
Method of estimation of cost function, by making opinions and analysis about cost and cost drivers is classified as conference method. The conference method is an approach to cost estimation that pools together data, analyses, and knowledge from expert sources in order to make decisions about costs.Related Questions on Costing
Basic objective of cost accounting is ________
A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
A. hospitals
B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
D. shutdown cost
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