The span time from initial research and development of product till support and customer service, if not offered for that particular product will be called __________?
Correct answer: B. product life cycle
- A. life cycle budgeting
- B. product life cycle
- C. life cycle costing
- D. target costing
Explanation
A product life cycle covers the period from research and development through introduction, growth, maturity, decline and eventual customer support or withdrawal. Life-cycle costing is the cost-measurement technique applied across that period, not the period itself.
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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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