The way in which a manager estimates costs depends on the nature of the outputs,the processes underlying them and the purpose for which the manager is estimating the costs.

Question

Quizplus · Accepted Answer

The statement is true as there is no one-size-fits-all approach to cost estimation and it varies based on different factors such as the nature of outputs, underlying processes, and purpose.

The Way in Which a Manager Estimates Costs Depends on the Nature