Cost Behavior Refers to the Methods Used to Estimate Costs

question 55

True/False

Cost behavior refers to the methods used to estimate costs for use in managerial decision making.

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Definitions:

Living Beings

Organisms that exhibit the characteristics of life, such as growth, reproduction, responsiveness, and metabolism.

Meaningful

Having significant, purposeful value or importance; capable of eliciting deep thought or emotion.

OTTFFSSENT

OTTFFSSENT is a mnemonic device used to remember the initial letters of the first ten numbers in sequence: One, Two, Three, Four, Five, Six, Seven, Eight, Nine, Ten.

Objective Reality

A state of actuality that exists independently of personal perceptions or beliefs.