Which of the Following Is True of Historical Costs

question 11

Multiple Choice

Which of the following is true of historical costs?

• A) They are useful for making future predictions.
• B) They are relevant for decision making.
• C) They are always accounted as opportunity costs.
• D) They cannot be fixed costs.

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Definitions:

Deming's Quality Principles

A set of 14 management practices to help companies increase their quality and productivity.

Defects

Flaws or errors in a product, process, or system that detract from its intended quality or functionality.

CRM Program

A strategy and software that businesses use to manage interactions with current and potential customers, aiming to improve relationships and grow sales.

High Quality

A degree of excellence or superiority in condition or performance; often associated with the level of fulfillment of certain standards or specifications.