Tender is an_____________?
Correct answer: B. estimation of selling price.
- A. estimation of profit.
- B. estimation of selling price.
- C. estimation of cost.
- D. estimation of units.
Explanation
A tender is a quotation or offer to undertake work at a stated price, so it represents an estimated selling price to the customer. The price is usually calculated by adding the expected profit to the estimated cost.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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