To Decide the Cost of a Product,managers Use Information About

question 5

True/False

To decide the cost of a product,managers use information about past and projected product costing and customer preferences.

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Definitions:

Centralized Decision Making

A process where all key decisions within an organization are made by a central group or individual, with little or no input from lower-level staff.

Information Transfer

The process of moving data and knowledge from one entity or place to another, often through communication or technology.

Monitoring

The act of observing, checking, and keeping a continuous record of a process or quality over a period of time.

Principle

A fundamental truth or proposition that serves as the foundation for a system of belief or behavior or for a chain of reasoning.