Managers Find Operation Costing Useful in Cost Management Because It

question 100

Multiple Choice

Managers find operation costing useful in cost management because it ________.

• A) often results in profit maximization
• B) results in cost minimization
• C) focuses on control of physical processes of a given production system
• D) uses job costing to account for the conversion costs and process costing for the material and customizable components

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Definitions:

Promissory Estoppel

A doctrine under which a promise is binding if the promise is clear and definite, the promisee justifiably relies on the promise, the reliance is reasonable and substantial, and justice will be better served by enforcing the promise.

Consideration

A fundamental concept in contract law that involves something of value exchanged between parties as part of an agreement.

Legality

The state or condition of being in accordance with the law.

Legally Sufficient

A term referring to the adequacy of a piece of evidence or claim to meet legal standards or requirements.