The Techniques Used to Determine the Cost of a Product

question 96

Short Answer

The techniques used to determine the cost of a product or service by collecting and classifying costs and assigning them to cost objectives

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Definitions:

Duplex Mind

The duplex mind concept suggests that the human mind has two operational systems: one that is automatic, unconscious, and fast, and another that is controlled, conscious, and slower.

Cultures

Cultures encompass the shared values, beliefs, norms, customs, laws, and knowledge of a group of people that guide their behaviors and understanding of the world, passed from generation to generation.

Nature

The physical world and ecosystem surrounding us, including plants, animals, landscapes, and environmental processes.

Shared Ideas

Thoughts, concepts, or notions that are commonly or mutually held, understood, or accepted by a group of people.