The Following Four Tasks Take Place in the Concept Known

question 4

Multiple Choice

The following four tasks take place in the concept known as target costing.
i. Value engineering
ii. Establish a target price
iii. Establish a target cost
iv. Establish a target profit
Which of the following correctly depicts the sequence of these tasks?

• A) iii, i, iv and ii
• B) ii, iv, iii and i
• C) ii, iii, i and iv
• D) iii, ii, i and iv

---

Definitions:

Industrial Revolution

A period of major industrialization from the late 18th century to the early 19th century that transformed economies, work practices, and societies in many countries.

Guilds

Associations of artisans or merchants who control the practice of their craft in a particular town, historically significant for setting standards and protecting members' interests.

Unions

Organizations of workers that seek to defend and promote their members’ interests.

Agricultural Settlements

Communities primarily engaged in farming and agriculture, often located in rural areas.