Which of the Following Costing Methods Is the Most Effective

question 5

Multiple Choice

Which of the following costing methods is the most effective in controlling a product's total life-cycle cost?

• A)kaizen costing
• B)target costing
• C)standard costing
• D)process costing

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Definitions:

External Organizational Environment

Constitutes the outside forces, including economic, political, technological, and social factors, that affect an organization's operations.

Industry Environment

The external factors including economic, political, regulatory, and social that affect the operational, financial, and competitive landscape of industry sectors.

BCG Matrix

A strategic business tool designed by the Boston Consulting Group that evaluates the relative performance of an organization's product portfolio based on market growth rate and market share.

Cash Cows

Products or business units that generate significantly more money than they consume, often providing the bulk of a company's profit.