Place the Six Cost Estimation Steps into the Correct Order

question 21

Multiple Choice

Place the six cost estimation steps into the correct order:

1. Determine the cost drivers
2. Graph the data
3. Select and employ the appropriate estimation method
4. Define the cost object for which the related costs are to be estimated
5. Evaluate the accuracy of the cost estimate
6. Collect consistent and accurate data on the cost object and the cost drivers

• A) 6,4,1,3,5,2.
• B) 4,1,6,2,3,5.
• C) 2,1,4,3,6,5.
• D) 1,3,4,6,5,2.

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Definitions:

Alex the Parrot

A famously intelligent African grey parrot known for his ability to mimic human speech and understand complex concepts.

Semantic Pointer Competition

A theoretical framework arguing that competition between semantic pointers determines the content of consciousness.

Interoception

Interoception refers to the internal sensing system of the body that helps in perceiving physiological states such as hunger, heart rate, and thirst.

Exteroception

The sensory process that involves perceiving stimuli originating outside the body, such as sight, sound, and touch.