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.

---

Definitions:

Types of Deviance

Categorizations that explain various behaviors that diverge from societal norms, including criminal and non-criminal acts.

Universal Definition

A widely accepted or agreed-upon explanation or meaning of a term or concept, applicable in all contexts and situations.

Deviance

Deviance pertains to actions or behaviors that violate societal norms or expectations, which can range from minor infractions to serious offenses.

White-collar Crime

Nonviolent crime committed by individuals, typically during the course of their occupation, for financial gain.