Method, which considers cost and cost drivers of departments such as employee relations and process engineering is termed as
A. pricing method
B. manufacturing method
C. conference method
D. inference method
Answer: Option C
Solution(By Examveda Team)
Method, which considers cost and cost drivers of departments such as employee relations and process engineering is termed 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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