The step by step business functions, in which product or services must have customer usefulness, is classified as ___________?
Correct answer: A. value chain
- A. value chain
- B. useful chain
- C. product chain
- D. services chain
Explanation
The value chain is the sequence of business activities that adds value to a product or service for the customer, from inputs through delivery and support. “Useful chain” and the other alternatives are not recognized accounting terms.
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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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