Which of the Following Are Key Features of Target Costing

question 17

Multiple Choice

Which of the following are key features of target costing?
i. Cross functionality
ii. Market price driven
iii. Focus on customer value
iv. Based on life cycle management

• A) i, ii and iii
• B) i, iii and iv
• C) i, ii and iv
• D) All of the given answers

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Definitions:

Small Business

A small business is typically an independently owned and operated entity, characterized by limited revenue, fewer employees, and smaller market reach compared to larger businesses.

Functions Of Management

Refers to the core tasks and responsibilities that managers must perform, including planning, organizing, leading, and controlling, to effectively and efficiently coordinate the use of resources to achieve organizational goals.

Motivation-Hygiene Theory

A theory by Frederick Herzberg that suggests job satisfaction and dissatisfaction arise from two different sets of factors - motivation factors and hygiene factors.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, which outlines a hierarchy of human needs from basic physiological needs to self-actualization.