Which one of the following is the main advantage of quantitative method?
Correct answer: C. objective
- A. non expression
- B. non constant
- C. objective
- D. non objective
Explanation
Quantitative methods use numerical data and statistical calculations, so they provide an objective basis for estimating costs. Qualitative judgment is more subjective and can vary between people.
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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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