Which of the following is a possible limitation in cost estimation?
A. Critics argue that the method used for estimating cost is outdated and does not provide accurate cost estimates.
B. It is difficult to obtain data on relevant costs from accounting reports that record historical data.
C. Critics argue that cost estimates do not help managers make efficient decisions.
D. It is difficult to get qualified people who can obtain data on costs and can interpret the data.
Answer: B
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A less advanced country can improve its productivity by:
a. repurposing b. imitating c. reusing d. redeveloping
The _____ is the change in the purchasing power of assets that causes spending to change when the price level changes
a. purchasing power effect b. interest rate effect c. substitution effect d. income effect e. real-balance effect
In the case of negative externalities, _____
a. the market equilibrium output is greater than the socially optimal output b. the market equilibrium output is lesser than the socially optimal output c. the social cost curve lies below the private cost curve d. the market is allocatively efficient at market equilibrium
Tax and spending policies affect aggregate demand only after some time elapses. Due to these time lags, fiscal policies end up getting based on
A. forecasts on the future state of the economy that are often inaccurate. B. forecasts on the present state of the economy that are often inaccurate. C. forecasts on the present state of the economy that are often accurate. D. all of these.