Which of the following is a possible limitation in cost estimation?
A)It is difficult to obtain data on relevant costs from accounting reports that record historical data.
B)It is difficult to get qualified people who can obtain data on costs and can interpret the data.
C)Critics argue that the method used for estimating cost is outdated and does not provide accurate cost estimates.
D)Critics argue that cost estimates do not help managers make efficient decisions.

Question

Quizplus · Accepted Answer

Accounting reports often focus on historical data, which may not accurately reflect current or future costs, making it challenging to obtain relevant cost data for estimation.

Which of the Following Is a Possible Limitation in Cost