Which of the Following Five Steps (Out of Six) of Cost

question 16

Multiple Choice

Which of the following five steps (out of six) of cost estimation is out of order?

• A) Step 1: Define the cost object to be estimated.
• B) Step 2: Determine the cost driver(s).
• C) Step 3: Collect relevant data on the cost of the cost object and the cost driver.
• D) Step 4: Evaluate the accuracy of the cost estimate.
• E) Step 5: Select and employ the estimation method.

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Definitions:

Medulla

A section of the brainstem responsible for regulating vital bodily functions such as heart rate and breathing.

Neurons

Specialized cells of the nervous system that transmit information through electrical and chemical signals.

Nerve Tissues

Specialized tissues in the nervous system that transmit electrical signals throughout the body.

Endocrine System

A network of glands in the body that produce hormones, which regulate metabolism, growth and development, tissue function, and mood among other functions.