________ Is the First Step in Estimating or Predicting Costs

question 90

Multiple Choice

________ is the first step in estimating or predicting costs as a function of appropriate cost drivers.

• A) Cost measurement
• B) Cost determination
• C) Cost behaviour
• D) Cost driver

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Definitions:

Random Selection

A method of selecting a sample from a population in a way that gives every member of the population an equal chance of being chosen.

Representative Sample

A subset of a population that closely mirrors the characteristics of the overall population, used in research to draw conclusions about the population as a whole.

Population

a group of individuals of the same species living in the same geographic area at the same time, capable of interbreeding.

Theoretical Perspectives

Frameworks or lenses through which scientists and researchers view, analyze, and interpret phenomena within a field of study.